The shares of Urja Global Limited were locked in the 20 percent upper circuit today and closed at Rs 12.70. It has a market capitalization of approximately Rs 700 crores.
According to a regulatory filing over the BSE on 8th June 2023, the company announced that it has signed an agreement with ‘Tesla Power India Private Limited’ in order to manufacture and supply batteries under the Tesla Power USA brand.
The buzz started around the stock when the entity giving the order was mistakenly interpreted as Elon Musk’s owned ‘Tesla Inc’.
For the last two trading sessions, the scrip has been locked in the circuit and rose nearly 45 percent from 9.00 to the current price level.
All the fiasco being present for a couple of days, Ace Investor Mr. Vijay Kedia clarified about the confusion that took place and tweeted about the same.
Written by Amit Madnani
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