ATHERENERG

's Market Valuation Overtakes Larger Rival

OLAELEC

For the first time since both began selling electric scooters,

's market capitalization has surpassed that of its larger rival, , signaling a shift in investor confidence. On Monday, Ather's shares jumped 4.78% to give it a market cap of ₹23,601 crore, while Ola Electric's shares fell 2.54%, dropping its valuation to ₹23,200 crore. → This change in valuation reflects a divergence in sales performance: Ather surpassed Ola's total quarterly sales for the first time in the July to September quarter. In that quarter, Ola's quarterly sales saw a 47% year-on-year fall, while Ather jumped to the second position among Indian electric two-wheeler makers by selling 52,597 units. → topped the quarterly list with 69,195 units, followed by Ather, with in third place at 51,120 units. → Specifically in September, Ather sold 18,109 units, surpassing Ola's 13,371 units for the first time in a single month. Ola Electric, despite significantly increasing its store count and launching a new electric motorbike, has seen its sales plunge this year amid consumer dissatisfaction over persistent service issues. → The shares of Ather Energy, which started selling scooters in 2018, have more than doubled since its May listing, contrasting with Ola's shares, which are trading 31% below its August 2024 listing price. → Ather's promoters owned 42.09% of the company at the end of June, with Hero Motocorp Ltd. holding 30.9% and co-founders Tarun Mehta and Swapnil Jain holding 11.19%.