Ather Shares Surge 5.7% To Hit Record High After Konarc Launch
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Shares of EV maker Ather Energy touched a fresh all-time high of ₹1,703.90 during the intraday trading today following the company’s launch of Konarc escooter.
The stock jumped 5.7% from its previous close of ₹1,612 on the BSE. It later pared some of the gains and was trading 2.2% higher at ₹1,647 apiece at 15:20 IST. Ather’s market capitalisation stood at about ₹64,973 Cr (about $6.8 Bn) at the time.
On Saturday (August 29), Ather launched its new Konarc escooter at its annual Community Day. The escooter has been priced at ₹99,999 for the entry-level variant, placing it in the mass-market electric two-wheeler segment.
Built on Ather’s new EL platform, the Konarc will be available across the S and Z product lines, with claimed IDC range options between 100 km and 200 km.
The company also unveiled an advanced electronic braking system, a 450-watt onboard charger, and other charging and convenience features at the event.
Following the launch, Emkay Global Financial Services retained its ‘Buy’ rating on Ather and raised its target price by 37.5% to ₹2,200 per share from ₹1,600 earlier.
(The story will be updated soon)
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