India's Ather Energy extends winning streak, HDFC Securities sees co as top pick

Ather Energy

19/09/2025 10:53

** Shares of e-scooter maker Ather Energy ATHR.NS rise 7.7% this week, set for fifth straight weekly rise

** HDFC Securities reiterates "buy" and considers ATHR as top pick; sets PT at 748 rupees

** Says co's expansion from 351 to 700 stores by next year and plans to launch more affordable models from late FY27 will drive growth and profitability

**Notes benefits from operating leverage, move to lower cost rechargeable lithium-ion battery and EL platform with better monetization of its software and accessories to help towards positive EBITDA in FY28

** A more seamless transition to using the light rare earth magnets from heavy rare earth magnets, avoids any meaningful production impact, unlike competition - HDFC Securities

** Stock up ~93% since listing on May 6

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))