Ather Energy Jumps 8% To Touch Record High After PM Modi’s Clean Mobility Push

Shares of Ather Energy soared as much as 8.1% to hit a fresh all-time high at ₹989.4 on the BSE during the intraday trading today, as investor sentiment turned positive following Prime Minister Narendra Modi’s call to increase the use of clean mobility solutions amid concerns around the ongoing geopolitical tensions in West Asia.

The stock later pared some gains and was trading 6.7% higher at ₹976.6 at 14:59 IST. Its market capitalisation stood at ₹37,371.8 Cr (about $3.9 Bn) at the time.

This comes days after Ather’s shares hit an all-time high at ₹982.5 on the BSE during the intraday trading on May 5 (Tuesday), following its strong Q4 FY26 performance. 

The EV maker reported a 57% decline in its net loss to ₹100 Cr in Q4 FY26 from ₹234 Cr in the corresponding quarter last year. For FY26, its loss narrowed 36.3% to ₹517.2 Cr from ₹812.3 Cr in FY25. 

Operating revenue for the full fiscal rose 62.8% to ₹3,671.8 Cr from ₹2,255 Cr a year earlier. Ather also reduced its EBITDA loss by 51.6% to ₹257 Cr, while EBITDA margin improved to -6.7% from -23% in FY25.

Brokerages maintained a positive stance on the stock following the results. HSBC retained its ‘Buy’ rating with a target price of ₹1,050, noting that near-term profitability could remain under pressure due to commodity headwinds. However, it highlighted Ather’s strong brand and execution capabilities. 

Nomura also maintained a ‘Buy’ call with a target price of ₹1,120, citing strong growth visibility, upcoming platform launches and network expansion despite near-term margin pressure.

Besides Ather, other EV manufacturers and clean mobility companies also witnessed strong buying interest today.  

Shares of Ola Electric surged 4.5% to hit an intraday high of ₹37.7 on the BSE. Recently, the company also announced that its mass-market electric scooter, the S1 X+ (5.2 kWh), powered by its indigenously developed 4680 Bharat Cell battery pack, received approval from the International Centre for Automotive Technology (ICAT), Manesar.

Addressing a public event in Secunderabad yesterday, PM Modi urged citizens who own EVs to maximise their usage as part of broader efforts to reduce dependence on fossil fuels. “People with electric vehicles should try to use them as much as possible,” he said. 

The rally in EV stocks came amid a selloff in the broader market. The BSE Sensex was trading 1.53% lower at 76,144 at 15:01 IST, while Nifty 50 was down 1.34% at 23,852.

Investor sentiment turned negative amid worsening geopolitical conditions in West Asia after US President Donald Trump reportedly rejected Iran’s peace proposal, triggering a surge in crude oil prices and raising concerns over higher energy costs, inflationary pressures and a widening trade deficit. 

PM Modi’s remarks urging citizens to reduce fuel consumption and cut dependence on imported goods to help conserve foreign exchange amid the ongoing global energy crisis further impacted sentiment.

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