India's Ather Energy surges after narrower quarterly loss; brokerages lift price targets

Ather Energy

03/02/2026 05:15

** Shares of Ather Energy ATHR.NS surge 10.6% to 671 rupees

** Indian e-scooter maker's Q3 losses more than halved, led by 50% jump in sales, improved unit costs

** Nomura ("buy"), raises PT to 812 rupees, from 790 rupees earlier; says ATHR's potential medium-term growth "highest within our coverage universe"

** Adds, Q3 results showed ATHR's software add-on provides "significant competitive edge." driving both market share and margins

** As manufacturing scale improves, ATHR to post positive EBITDA of 1.1 billion rupees in FY28 - Nomura

** Emkay Global ("Add"), lifts PT to Street-high of 1,000 rupees from earlier 925 rupees

** Brokerage likes ATHR's prospects of increasing market share through launch of new products from low-cost EL platform this year

** Adds, superior cost structure likely to drive margin expansion, while also addressing commodity headwinds

** Analysts tracking ATHR rate it "strong buy" on average vs "hold" for Ola Electric OLAE.NS - data compiled by LSEG

** Stock has jumped 2x since listing in May 2025

(Reporting by Nandan Mandayam in Bengaluru)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))