Shares of Tesla revved up by 12%, not only sending the stock soaring to $288 on November 6 afternoon as Donald Trump’s return to the White House became obvious, but also turning Elon Musk’s fortunes to stratospheric levels of $284.3 billion according to US media reports. The shares closed the day at $288.53, up $37.09.
Tesla’s shares put its 52-week high of $273.54 set on October 27 to shame. Musk, already the wealthiest person in the planet, saw his fortunes zooming by almost $20 billion in one afternoon, thanks to his 13% ownership of Tesla’s outstanding shares. According to US analysts, Donald Trump has plans to erect protectionist tariff walls that would discourage, among other things, imports from China. Incidentally, one of Tesla’s biggest competitors BYD comes from China, which has emerged as the world’s biggest EV maker overtaking Tesla.
How to invest in Tesla from India
Invest directly in Tesla’s shares in this way
Perhaps the most convenient way is to invest directly from India. This can be done by opening international trading accounts with certain apps. However, one should verify their bonafide before opening an account. These can be opened with international borkers functioning from India as well as Indian brokers. KYC documents have to be furnished and verified. Aadhaar, PAN and other standard KYC documents can be used.
Invest in Tesla shares through mutual funds
An Indian investor who is based in India can also indirectly invest in the shares of Tesla. Some of the popular mutual fund schemes that are known to hold Tesla shares are Motilal Oswal Nasdaq 100 ETF, HDFC US Equity Fund, Birla Sun Life US Equity Fund, Franklin India Prima Fund have invested in Tesla shares.
Maximum investment possible in a year
The rules of Liberalised Remittance Scheme state that one can invest a maximum of $2.5 lakh in one financial year. At $288 a share, one can buy more than 866.46 shares of Tesla. Please remember that one can buy fractional shares of a company according to US rules. This is in contrast to India, where shares can be bought or sold only in whole numbers.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO or mutual fund.)
Shares of Tesla zoomed on November 6 after the reelection of Donald Trump as the US president became obvious, making the world’s richest man Elon Musk richer by about $20 billion. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
