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Shares of EV maker Ather Energy touched a fresh all-time high of ₹1,703.90 during the intraday trading today

The stock jumped 5.7% from its previous close of ₹1,612 on the BSE

Emkay Global Financial Services retained its ‘Buy’ rating on Ather and raised its target price by 37.5% to ₹2,200 per share from ₹1,600 earlier.

Shares of EV maker Ather Energy touched a fresh all-time high of ₹1,703.90 during the intraday trading today following the company’s launch of Konarc escooter.

The stock jumped 5.7% from its previous close of ₹1,612 on the BSE. It later pared some of the gains and ended today’s trading session 4.11% higher at ₹1,678.20 on the BSE. The company’s market capitalisation stood at ₹66,200 Cr (about $7.9 Bn).

On Saturday (August 29), Ather launched its new Konarc escooter at its annual Community Day. The escooter has been priced at ₹99,999 for the entry-level variant, placing it in the mass-market electric two-wheeler segment.

Built on Ather’s new EL platform, the Konarc will be available across the S and Z product lines, with claimed IDC range options between 100 km and 200 km.

The company also unveiled an advanced electronic braking system, a 450-watt onboard charger, and other charging and convenience features at the event.

Following the launch, Emkay Global Financial Services retained its ‘Buy’ rating on Ather and raised its target price by 37.5% to ₹2,200 per share from ₹1,600 earlier.

Emkay said Ather’s established brand, strong product portfolio, gross margins, and potential to gain market share as the EL platform scales up make it its preferred bet in the electric two-wheeler segment.

The brokerage expects Ather’s shares to potentially double over the next three to four years.

However, the Konarc launch was not the only factor driving Ather’s recent rally. The stock had surged 9.3% on Friday (August 28) after Hero MotoCorp acquired an additional stake in the EV maker for up to ₹1,758 Cr.

On the financial front, the Bengaluru-based EV maker narrowed its consolidated net loss 71% to ₹51 Cr in the June quarter of FY27 from ₹178 Cr in the corresponding quarter last year. Its operating revenue jumped 79% YoY to ₹1,227 Cr during the quarter.