Archive · 10 Sep 2026
Ather Energy Shares Rise as Nomura Raises Target Price
Ather Energy makes electric scooters and is planning to expand its products.
Nomura, a foreign brokerage, thinks Ather could grow much faster than expected.
It raised the price target for Ather’s shares from Rs 1,714 to Rs 1,926.
Ather’s new EL platform may help the company sell more vehicles at competitive prices.
Nomura also believes more people will switch from petrol two-wheelers to electric vehicles.
It raised its forecast for electric two-wheeler adoption by FY30.
The brokerage expects Ather’s sales volume and revenue to grow strongly.
It called Ather its preferred company in the two-wheeler sector.
Ather Energy shares climbed 4% after Nomura raised its target price to Rs 1,926 from Rs 1,714.
Nomura said Ather’s EL platform could double its total addressable market and support more competitively priced products.
The brokerage raised its FY30 electric two-wheeler penetration forecast to 22% from 19.6%, including 45% penetration for scooters.
Nomura expects Ather’s FY28-29 volumes to reach 7,94,000, representing 104% year-on-year growth.
Nomura forecast revenue growth of 54%, 100% and 31% for FY27, FY28 and FY29, respectively, and named Ather its top two-wheeler pick.
- Who
- Ather Energy and Nomura.
- What
- Ather Energy shares rose 4% after Nomura increased its target price and growth estimates.
- When
- The article does not specify a publication date.
- Where
- The article does not specify a location.
- Why
- Nomura cited Ather’s EL platform, stronger electric-vehicle adoption, premium positioning and expected volume growth.
- Share movement
- Ather Energy shares climbed 4%.
- New target price
- Rs 1,926.
- Previous target price
- Rs 1,714.
- FY30 EV two-wheeler penetration forecast
- 22%, up from 19.6% previously.
- FY30 scooter EV penetration forecast
- 45%.
- FY28-29 volume estimate
- 7,94,000 vehicles, up 104% year on year.
- Expected revenue growth
- 54% in FY27, 100% in FY28 and 31% in FY29.