The grass always looks greener on the other side.
Indian investors seeking to diversify their investment portfolio often venture into global markets to find foreign stocks that can give them crazy returns. Now if you are one of them you must have a look at Elon Musk’s Tesla TSLA. The clean energy company has generated massively green returns for its shareholders but is there an Indian stock in the same space that has managed to beat it?
Yes, Olectra Greentech is an EV manufacturer that has been on a tremendous bull run this year. In just the last six months the stock has gone up over 60%. So how does it compare with EV giant?
Olectra has had a rollercoaster ride in the past year. The stock had a pretty rough time up until February this year, when it hit its 52-week low of ₹374.10, but since then it has been going up consistently even hitting its all-time high of ₹1,465 in August.
See Also: How To Buy NVIDIA Shares In India
On the other, after a rough 2022, Tesla shares have recovered quite a bit since the start of 2023. On a year-to-date basis, the stock has surged up over 130%.
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But, compared to a year ago, it’s much of a climb.
The Tesla share price has climbed up around 15% from a year whereas the Olectra shares price has nearly doubled. As shown from the chart above, a hypothetical ₹1,000 investment in Olectra would have outperformed Tesla returns by a mile.
Also, investing in a Tesla from India would have cost you a lot more than just its share price. You can find out all you need to know about buying Tesla shares in India here.
Read Next: Is Olectra Greentech Share A Good Buy?
Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational purposes alone.
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