New York, Nov 17 (AP) Tesla will be added to the S&P 500 index on December 21. Based on its market value Monday, the electric car maker would be one of the top 10 companies in the benchmark index upon entry.

S&P Dow Jones Indices made the announcement after the closing bell. Tesla shares jumped nearly 11 per cent in after-hours trading.

Also Read | Trivendra Singh Rawat & Yogi Adityanath Leave For Badrinath From Gauchar: Live Breaking News Headlines Updates on November 17, 2020.

Tesla became eligible to join the S&P 500 after posting its fourth consecutive profit in the second quarter of this year. However, it was not selected for inclusion in the index in September.

Tesla shares have soared 387.8 per cent this year as the company is finally making money on a consistent basis and continues to hit milestones for deliveries of its vehicles. (AP)

Also Read | British Diplomat Stephen Ellison, 61, Jumps Into Swollen River to Save Drowning Woman in China’s Zhongshan (Watch Video).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)