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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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