Ather Energy Shares Jump 4% As Global Broker Sounds Bullish On Electric Two-Wheeler Maker

Mumbai, September 10: Shares of Ather Energy rose as much as 4% in early trade on Thursday, September 10, after a global brokerage retained its ‘Buy’ rating on the electric two-wheeler maker and raised its target price to ₹1,926 per share. The brokerage’s outlook was supported by the launch of Ather’s mass-market Konarc electric scooter, expectations of faster electric vehicle adoption and an improved growth trajectory. 

The stock climbed during the session, putting it among the top gainers across the BSE 500 and NSE 500 indices. At this level, Ather Energy commanded a market capitalisation of around ₹64,300 crore. The new target implies an upside of about 22% from the stock’s previous closing price. As of writing the stock was up 3.7% at Rs 1,638.50. 

Ather Energy stock: Why is it rising? 

Ather Energy jumped after thumbs up from global broker. Source: NSE

The bullish view comes as Ather looks to expand its presence beyond the premium electric two-wheeler segment. The brokerage highlighted the launch of the Konarc as a key catalyst for the company’s growth prospects, alongside expectations of faster adoption of electric vehicles in India’s two-wheeler market. 

Ather unveiled the Konarc at its annual Community Day on August 29, with prices starting at ₹99,999. The model marks the company’s entry into the mass-market segment and is aimed at broadening its customer base beyond premium electric scooters. 

Broker raises Ather Energy growth estimates 

Following the Konarc launch, the global broker raised its revenue growth estimates for Ather Energy to 54% for FY27, 100% for FY28 and 31% for FY29. The brokerage also expects the company to command a premium valuation of 5-7 times enterprise value to sales, citing its growth prospects. 

The revised estimates come against a strong run for the stock. Ather Energy shares have more than doubled in 2026, gaining around 121% year-to-date, significantly outperforming the Nifty 50, which has declined about 10.3% over the same period. 

Ather Energy production capacity expansion 

Capacity expansion is another key factor supporting the company’s growth outlook. Ather’s AURIC facility is expected to begin ramping up from either the December or March quarter and reach full-scale production in the first half of FY28. 

The facility is expected to add capacity of around 42,000 units a month once fully operational. 

Hero MotoCorp increases Ather stake 

Investor interest in Ather has also been supported by Hero MotoCorp‘s increased exposure to the electric two-wheeler maker. Hero MotoCorp recently bought 1.18 crore Ather Energy shares for ₹1,758 crore from the Government of Singapore, taking its stake in Ather to around 32.8%. 

The combination of the Konarc launch, capacity expansion and rising EV adoption has strengthened the growth narrative around Ather Energy, helping sustain investor interest in the stock despite the broader weakness in Indian equities. 

Source

• https://www.nseindia.com/get-quote/equity/ATHERENERG/Ather-Energy-Limited