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.
Source Fool.com
