ATHER SHARES RISE 4% TO FRESH HIGH AFTER KONARC LAUNCH

Ather Energy shares extended their winning streak for the fourth consecutive session, rising nearly 4% to hit a fresh high of ₹1,679. The gains came after the electric two-wheeler maker launched its new mass-market scooter, Ather Konarc, in Bengaluru on August 29. Ather Energy with a target price of ₹2,200, implying an upside of more than 36% from Friday’s closing price. The brokerage also expects the stock to potentially double over the next three to four years. Ather unveiled the Konarc at its annual Community Day event on August 29, with prices starting at ₹99,999. The launch marks the company’s entry into the mass-market electric scooter segment as India’s electric two-wheeler industry expands beyond early adopters. Ather CEO and co-founder Tarun Mehta had previously indicated that the company was preparing to enter the mass-market segment amid increasing adoption of electric two-wheelers in India. The company has also indicated plans to increase capacity at its Hosur plant by another 6,000–10,000 units per month, as the facility currently meets only around 50% of demand. Ather is also expected to develop multiple new products based on its EL platform and could introduce a motorcycle platform in FY28. At the Community Day event, Ather showcased several new features and products, including the Magic Key, connected technology upgrades through Atherstack 7, Ather Node for residential charging, and improvements in battery longevity and vehicle-health monitoring. Adding to the positive sentiment, Ather Energy is set to be included in the MSCI Small Cap Index.