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Tata Motors Stock Is Surging on India Tesla Rumors

John Rosevear, The Motley Fool
·2 min read
Tata Motors Stock Is Surging on India Tesla Rumors

Shares of Indian automaker Tata Motors (NYSE: TTM) were sharply higher on Monday morning, amid rumors in India suggesting that the company may be close to a deal to build Tesla (NASDAQ: TSLA) vehicles under contract. As of 11 a.m. EST, Tata's American depositary shares were up about 13.9% from Friday's closing price. Tata's U.S.-listed shares appear to be following the lead of its New Delhi-listed shares, which closed up 12.6% on Monday on rumors that the company is about to sign a deal with Tesla.

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