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Urja Global shares up 44% on deal with Tesla as investors confuse it with Musk's company
short by Hiral Goyal / on Monday, 12 June, 2023
Shares of renewable energy company Urja Global jumped 44% in two days after it announced a partnership with Tesla Power India. Many investors misidentified Tesla Power India as billionaire Elon Musk-led Tesla and bought Urja Global's shares, driving its price up. Under this partnership, Urja Global will manufacture and supply various types of batteries under the Tesla Power USA brand.
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