The Stock Had Closed at ₹1,272.70 in the Previous Session

Ather Energy shares surged 14% to close at ₹1,450.40 on the NSE after hitting a fresh 52-week high of ₹1,500, following a sharp narrowing in its quarterly loss. The stock had closed at ₹1,272.70 in the previous session. The company reported a consolidated net loss of ₹51.1 crore in Q1FY27, down from earlier levels.

Management cited strong EV demand backed by government policy and favorable total cost of ownership. Delhi's EV policy is expected to largely continue with minor changes, while other states show growing support. Ather receives 236,000 enquiries and 50,000 bookings monthly.

CLSA maintained an outperform rating with a ₹1,600 target, noting volumes jumped 81% year-on-year, ahead of the industry's 68% growth, and EBITDA margin improved 319 basis points quarter-on-quarter to negative 2.7%. The brokerage highlighted capacity constraints, with bookings at 50,000 units against 35,000 capacity, but expects Factory 3.0's 500,000-unit annual capacity to ease this from Q3FY27. HSBC retained its buy rating, raising the target to ₹1,450, citing a sharp reduction in other expenses. Nomura kept a buy rating with a ₹1,714 target, calling the EV inflection fast-lane and noting the margin beat its estimate of negative 5.6%.