How to invest in Tesla stock from India

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Updated: July 23, 2021 6:42 PM

Owning Elon Musks's Tesla stock from the comfort of your home or office is almost similar to buying stocks on Indian stock exchanges.

Elon Musk's Tesla, Tesla share's 1-year return, all-time high, How to buy tesla stock, tesla share price in India in Indian rupeesTo buy the Tesla stock from India, you need to open an international brokerage account and start investing.

While driving a Tesla car on Indian roads may still be a few years away, owning Elon Musk’s Tesla stock from the comfort of your home or office is possible even now. Yes, you heard it right. Similar to buying a Reliance share or the shares of HDFC Bank or for that matter any stock listed on the Indian stock exchanges, buying the US stocks is almost the same.

Tesla, listed on Nasdaq, is currently trading at around 649 dollars. The Tesla share’s 1-year return has been about 129 per cent but has been on the decline for the last few months. The price has declined by nearly 11 per cent over the 3-month period and is helping long-term investors to accumulate the stock at lower levels. The all-time high price for Tesla has been about $900.

To buy the Tesla stock from India, you need to open an international brokerage account and start investing in the US stocks and ETFs. The international trading account firm helps you to complete the KYC requirement, open a bank account in the US, adhere to the RBI’s LRS formalities etc. Once the account gets opened, which typically will take about 5-7 days, you can transfer funds from the Indian account to the US bank account and start investing from India.

The price of Tesla share in Indian rupees is nearly Rs 51,000, at an exchange rate of Rs 73 to a dollar. But, if you feel it’s a price too high, you can buy a fraction of the share too. Owning the US stocks in Fractions is possible through Fractional Investments and one can even add Facebook, Apple, Tesla or any other stock to one’s portfolio with an amount of Rs 51,000.

Investing in top US stocks should be for a longer time frame especially in established companies with potentially strong future. In the first quarter of 2021, Tesla produced a little over 180,000 vehicles and delivered nearly 185,000 vehicles. According to the company, there has been a strong acceptance of the Model Y in China and the company is quickly progressing to full production capacity.

Based on analysts ( as per Nasdaq website) offering 12-month price targets for TSLA in the last 3 months, the average price target is $681.1 with a high estimate of $1200 and a low estimate of $135.

Source: Nasdaq.com

For the fourth quarter and full-year ended December 31, 2020, for the first time, Tesla had reported annual net income attributable to common stockholders GAAP) of nearly $721 million against a loss of $862 million in the previous year.

 

Disclaimer: The investing decision in any stock should be taken on your own after carefully evaluating the business and other fundamentals of the company or after consulting one’s financial advisor. It is not a recommendation to buy, hold or sell in any of the stocks. Financial Express Online does not bear any responsibility for their investment advice.

Looking to invest in US Stocks? Open a free account with Stockal - India's first borderless investment platform.

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