Tesla Rallies 12% in Two Sessions as Bharti Airtel–Reliance Jio Tie-Up Rumors Swirl

Tesla’s share price staged a strong comeback on Wednesday, surging more than 7% as part of a broader rally in the U.S. stock market. The electric vehicle (EV) giant’s stock closed at $248.09, marking a notable 7.59% gain for the day. The momentum carried into after-hours trading, where Tesla shares climbed an additional 1.98%, signaling continued investor confidence.

This marks Tesla’s second consecutive day of gains after a turbulent start to the week. On Tuesday, the stock had already posted a 3.79% increase, providing some relief after a steep 15% decline on Monday. The sharp drop earlier in the week had raised concerns among investors, but the recent rally suggests that some of those fears may be easing—at least in the short term.

Despite the recent rebound, Tesla’s overall stock performance remains under pressure. Over the past month, the company’s share price has dropped by more than 30%, and on a year-to-date (YTD) basis, the stock is down approximately 35%. The weakness in Tesla’s stock has been driven by a mix of disappointing sales figures and broader concerns about CEO Elon Musk’s focus on the company. Some investors fear that Musk’s potential involvement with the Trump administration could be distracting him from managing Tesla’s core business operations, adding to uncertainty around the company’s future direction.

The recent rally reflects a possible shift in investor sentiment, but Tesla still faces significant headwinds as it works to regain stability and restore confidence in its growth trajectory.

Tesla’s stock remains under intense pressure following recent steep losses, with analysts warning of continued volatility in the near term. In a Fox Business interview on Monday, Tesla CEO Elon Musk acknowledged the challenges he is currently facing in managing his various businesses. Musk described the situation as managing his companies “with great difficulty,” hinting at the strain of balancing multiple high-stakes ventures simultaneously.

On the technical front, market analysts are pointing to significant downside momentum in Tesla’s stock. According to Anshul Jain, Head of Research at Lakshmishree Investment and Securities, Tesla recently experienced a buying climax and a failed breakout at $417, which marked the completion of a 780-day rounding bottom formation. This technical breakdown has left many long-term positions trapped, contributing to a liquidation-driven downtrend as investors attempt to exit their positions.

The stock’s technical indicators reflect the severity of the decline. Tesla is currently trading 22% below its 20-day Exponential Moving Average (EMA) and 31.07% below its 50-day EMA — a clear indication of strong downward momentum. Despite the bearish trend, Jain noted that a short-term bounce toward the 10-day EMA at $268 or even the 20-day EMA at $295 remains a possibility. However, the broader technical outlook remains weak, suggesting that any rebound may be temporary.

Adding to the pressure, Jain highlighted that Tesla shares could soon test a key weekly support level at $182.82, which represents a critical swing low. If the stock approaches this level, it could become an important inflection point for future price action. Jain also cautioned that traders should prepare for ongoing short-term volatility as the stock continues to navigate a high-momentum decline.

Tesla’s current challenges reflect not only technical weakness but also broader market concerns about the company’s strategic direction and leadership focus. As Musk grapples with the demands of his various business ventures, investor confidence may remain fragile in the near term.

Tesla’s stock has recently drawn increased attention following significant developments involving Starlink, the satellite-based internet service operated by Elon Musk’s SpaceX. Starlink has announced strategic partnerships with two of India’s leading telecom giants — Reliance Jio and Bharti Airtel — marking a major step toward expanding high-speed satellite internet access across the country.

Jio Platforms, a subsidiary of Reliance Industries, disclosed on March 12 that it will begin offering Starlink solutions through its extensive network of retail outlets and its online platform. This collaboration is expected to significantly enhance Starlink’s reach in India by tapping into Jio’s vast customer base and distribution network. In addition to providing access to Starlink services, Jio will also create a dedicated support framework to assist customers with installation and activation of the service. This move is seen as a strategic effort to strengthen Jio’s position in the competitive Indian telecom market while addressing the growing demand for reliable high-speed internet, particularly in remote and underserved regions.

Bharti Airtel, another major player in India’s telecom sector, had earlier announced a similar agreement with SpaceX on March 11. Under this deal, Bharti Airtel will work with SpaceX to introduce Starlink’s high-speed satellite internet services to the Indian market. This partnership aims to leverage Bharti Airtel’s existing infrastructure and market presence to facilitate the rollout of Starlink services.

These agreements with two of India’s largest telecom operators reflect a significant push by Starlink to establish a foothold in one of the world’s fastest-growing internet markets. India’s vast geography and diverse population present both challenges and opportunities for expanding internet access, particularly in rural and hard-to-reach areas where traditional broadband infrastructure remains limited.

The partnerships with Jio and Bharti Airtel could accelerate Starlink’s ability to provide consistent and high-speed internet coverage across India, potentially transforming the country’s digital landscape. These deals also align with Musk’s broader vision of using satellite technology to bridge the digital divide and make internet access more universally available.

The recent announcements by Jio Platforms and Bharti Airtel regarding their respective partnerships with SpaceX’s Starlink have raised questions about the nature of these agreements. According to Avinash Gorakshakar, Head of Research at Profitmart Securities, the fact that both of India’s leading telecom companies have entered into similar deals with Starlink indicates that the agreements are not exclusive to any single company.

Gorakshakar noted that Starlink’s decision to collaborate with both Jio and Bharti Airtel suggests a strategic approach focused on broad market penetration rather than exclusivity. By partnering with two of the largest telecom providers in India, Starlink is positioning itself to maximize its reach and service coverage across different customer segments and geographic regions. This move allows Starlink to benefit from the established infrastructure and customer base of both telecom giants, potentially accelerating the rollout of satellite-based internet services across the country.

The non-exclusive nature of these deals could foster healthy competition between Jio and Bharti Airtel as both companies work to integrate and market Starlink’s services. This competitive dynamic may, in turn, lead to better service quality and more attractive pricing for consumers.

Gorakshakar’s observation underscores the strategic flexibility that Starlink is maintaining by not locking itself into a single partnership. By working with multiple telecom providers, Starlink can adapt to varying market conditions and customer needs, which could enhance the overall success of its expansion into the Indian market. This approach reflects a broader strategy of leveraging existing market leaders to establish a foothold in key regions while retaining the ability to scale operations and adjust partnerships as needed.

Avinash Gorakshakar, Head of Research at Profitmart Securities, has suggested that the recent partnerships between SpaceX’s Starlink and India’s leading telecom providers, Jio and Bharti Airtel, are likely to be more advantageous for consumers and SpaceX rather than for Reliance Industries.

Gorakshakar explained that by securing agreements with two of the largest telecom companies in India, Starlink is gaining access to one of the largest and fastest-growing internet markets in the world. This strategic move positions SpaceX to tap into the extensive customer base and infrastructure of Jio and Bharti Airtel, which could accelerate the deployment of satellite-based internet services across urban and rural areas.

From a consumer standpoint, the collaboration could lead to improved internet accessibility and higher service quality, particularly in underserved and remote areas where traditional broadband infrastructure remains weak. The competition between Jio and Bharti Airtel to offer Starlink’s services may also drive better pricing and service options for end-users.

However, Gorakshakar noted that while the partnership strengthens SpaceX’s market position and benefits consumers, the direct financial or strategic benefit to Reliance Industries may be limited. Since the agreement is non-exclusive, Reliance will not hold a unique competitive advantage from the deal, as Bharti Airtel will also be offering similar services. This suggests that SpaceX and Indian consumers are poised to gain the most from the partnership, while Reliance may see only moderate gains unless the deal translates into a significant market share shift or additional revenue streams.