How To Invest In Tesla Stock From India
While driving a Tesla car on Indian roads may still be a few years away, it is already possible to own Elon Musk’s Tesla stock from the comfort of your home or office. Yeah, you heard right. Much like buying a Reliance share, or HDFC Bank shares, or a share listed on the Indian stock exchanges, buying US shares is almost the same.
Tesla, listed on the Nasdaq, is currently trading at around $ 692. The 1-year return on Tesla stock was around 620 percent but has been declining in recent months. The price is down nearly 2 percent over the three month period, helping long-term investors accumulate the stock at lower levels. The all-time high price for Tesla was $ 900.
To buy Tesla stock from India, you need to open an international brokerage account and invest in US stocks and ETFs. The international trading account company will help you meet KYC requirements, open a bank account in the US, comply with RBI LRS formalities, etc. Once the account is opened, which usually takes around 5-7 days, you can withdraw funds from transfer the Indian account to the US bank account and start investing from India.
The price of Tesla stock in Indian rupees is nearly Rs 51,000 at an exchange rate of Rs 73 to one dollar. However, if you think the price is too high, you can also buy a fraction of the stock. Owning the US shares in Fractions is possible through Fractional Investments, and you can even add Facebook, Apple, Tesla or other stocks with an amount of Rs 51,000 to your portfolio.
Investing in top US stocks should take longer, especially in established companies with potentially strong futures. In the first quarter of 2021, Tesla produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. According to the company, the Model Y has gained widespread acceptance in China and the company is rapidly developing to full production capacity.
Based on analysts (according to the Nasdaq website) who have offered 12 month price targets for TSLA over the past 3 months, the average price target is $ 681.1 with a high estimate of $ 1200 and a low estimate of $ 135.
For the fourth quarter and the full year ended December 31, 2020, Tesla reported annual net income under GAAP (nearly $ 721 million) for the first time, compared to a loss of $ 862 million the previous year.
Disclaimer of liability: The decision to invest in a stock should be made after careful review of the business and other fundamentals of the company, or after consulting with the financial advisor. It is not a recommendation to buy, hold or sell stocks. Financial Express Online assumes no responsibility for investment advice.
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