Elon Musk's Tesla emerges as a new favourite among small investors in India

Mom-and-pop Indian investors increasingly buying US stocks have been drawn to a company that has no presence in India, so far: Electric car maker Tesla.

Indians are placing bigger-than-ever bets on US stocks this year as the American stock market has recovered faster than markets in India and other emerging nations following a crash sparked by the coronavirus pandemic.

While firms, such as Apple, Amazon and Facebook — which have a significant presence in India — are popular among Indian investors in US stocks, the data from brokerages shows Tesla has emerged as a new favourite.

Indian brokerage Vested Finance said its accounts