India's Ather Energy hits record high on EV growth optimism

Ather Energy

01/09/2025 05:52

** Shares of Ather Energy ATHR.NS rise 2.5% to 461 rupees, at their record high

** Ather Energy unveils its next-gen EL platform, AtherStack 7.0 with voice interaction, and faster chargers

** Top selling Rizta e-scooter gets a touchscreen dashboard, riding mode, and Infinite Cruise for Indian roads

** Nomura ("Buy", TP: 458 rupees) estimates overall EV penetration to rise from 6% in FY25 to 19% by FY30 as Ather is a key play for EV growth

** Adds, backed by EL platform launch and store expansion, we estimate its volumes to rise at a CAGR of 41% over FY25-28 from 155,000 units to 436,000 units in FY28

** Stock up ~51% since listing on May 6

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))