Ather Energy stock hits record high, brokerages turn bullish
What's the story
Ather Energy's stock has witnessed a remarkable surge, rising by 4% to a new high of ₹1,679 today. The spike comes after the company's recent launch of its new electric scooter, the Konarc, in Bengaluru on Saturday. This is the fourth consecutive session of gains for Ather Energy shares, which have jumped over 16% in this period.
Market outlook
Emkay Global Financial Services maintains 'buy' rating on Ather Energy
Brokerages are optimistic about the future of Ather Energy, especially after the launch of the Konarc.
Emkay Global Financial Services has maintained a "buy" rating on Ather Energy, with a target price of ₹2,200. This suggests over 36% upside from Friday's closing level.
The brokerage believes that the stock could double in value over the next three to four years.
Product details
Ather Konarc launched at ₹99,999
The Ather Konarc, launched at the company's annual Community Day on August 29, is priced at ₹99,999. This marks Ather Energy's entry into the mass-market segment.
The Konarc range comes in four variants with IDC ranges of 100km, 125km, 161km, and 200km.
The company plans to start production of the new EV at its Hosur facility, with deliveries starting from September 2026.
This move will reduce initial dependence on Aurangabad Industrial City (AURIC) facility for production.
Growth strategy
Ather to ramp up production at Hosur facility
Ather Energy plans to expand its Hosur facility's capacity by 6,000-10,000 units per month. The plant currently caters to about 50% of demand.
The company also plans to launch multiple new formats based on the EL platform and is likely to unveil a motorcycle platform in FY28.
This is part of Ather's strategy to cater to India's growing electric two-wheeler market beyond early adopters.