Why did Servotech Renewable shares jump 19% despite stock market crash today? Is there a Musk connection?
While stock markets, both Nifty and Sensex, continued to reel under losses for the third consecutive session on Tuesday, shares of Servotech Renewable Power Systems defied the trend with a sharp rally, jumping 19% to hit a three-month high of Rs 147 apiece. What’s Driving Investor Optimism in Servotech? The surge in Servotech’s stock appears to be linked to the high-profile visit of Errol Musk—father of Elon Musk, CEO of Tesla and SpaceX—who arrived in India on June 1 for a five-day strategic tour. Musk senior is part of Servotech’s...