India’s own proxy for Tesla disappoints in first step; brokerages rush to degrade it SECTIONS Share Synopsis The sentiment was buttressed by the company's announcement earlier this year that it has acquired 127 acre land in Gujarat’s Dholera region to set up a lithium-ion plant. Reuters For many investors, unable to invest in stocks like Tesla to capitalise on an industry of the future, Tata Chemicals became a natural proxy. Related NSE MUMBAI: In the first four months of 2021, shares of Tata Chemicals soared nearly 70 per cent driven by the expectations that the company will soon set up a lithium-ion battery plant in the country to capitalise on the growing demand for such energy storage units and the production-linked incentive plan announced by the government.