Ather Energy gets IRDAI nod for insurance unit.

Ather Energy Limited

said IRDAI has approved its unit Ather Insurance as a composite corporate agent. The approval allows the unit to distribute both life and non-life insurance products. The regulator cleared Ather Insurance to act as a composite corporate agent. This lets the unit sell life and general insurance. The step adds a new distribution channel for the electric two-wheeler maker. The key trigger is the IRDAI approval for Ather Insurance as a composite corporate agent. This may support near-term interest in the stock on diversification. Peers such as Ola Electric, TVS Motor and Bajaj Auto could face relative comparison on service offerings. Risks include slow uptake of insurance products or regulatory changes. Competitors listed: Ola Electric, TVS Motor, Bajaj Auto. We have no financial interest in this news.