Shares of Ather Energy rallied 4% to Rs 1,675 on the BSE on Monday after the electric two-wheeler company launched its new Konarc electric scooter at a starting price of Rs 99,999. The company is positioning the new model as a more accessible electric scooter for Indian riders.

The Ather Energy stock is up 132% in the last six months. It will be available in six variants across the S and Z product lines, with IDC range options of up to 200 km.

The S line will have four variants offering IDC ranges of 100 km, 125 km, 161 km and 200 km, while the Z line will comprise two variants with ranges of 125 km and 161 km. The Konarc S 100 km is priced at Rs 99,999, the S 125 km at Rs 1,21,999 and the S 161 km at Rs 1,44,999, with all three prices applicable ex-showroom Bengaluru. Ather has not disclosed prices for the remaining variants.

The Konarc S 125 km and S 161 km variants will be the first to go on sale, with bookings and deliveries scheduled to begin in mid-September through a phased rollout. The initial launch will cover select variants and states before being expanded to more locations across India.

Also read: Ather Energy among 4 stocks flashing bullish signals, hinting at a possible uptrend

Tarun Mehta, Co-Founder and CEO of Ather Energy, said the Konarc has been designed to make EVs mainstream in India by addressing the requirements of buyers who are yet to switch to electric vehicles. He highlighted features including metal panels, a 200 km range, a once-a-year service interval, fast home charging and a comfortable ride, while retaining Ather’s premium experience and technology. Mehta also said the scooter has been designed to scale, with Ather’s vertical integration and manufacturing capacity at AURIC expected to support expansion across more riders and markets in India.
The launch adds to Ather’s electric scooter portfolio, which currently comprises the performance-focused 450 series and the family-oriented Rizta.

Why are analysts bullish on Ather Energy stock?

Nomura recently maintained its Buy rating on Ather Energy and raised its target price to Rs 1,714. The brokerage retained Ather as its top pick in the electric two wheeler segment, saying EV penetration in India has reached an inflection point, with demand continuing to outpace supply. It expects the upcoming EL platform to nearly double the company’s total addressable market while significantly lowering costs.

Also read: Ather Energy raises Rs 1,200 crore from India-Japan Fund, Hero Motocorp, founders, launches Rs 1,500-crore

The Japanese brokerage believes margin risks have largely eased, while improving scale and operating leverage should help Ather achieve EBITDA breakeven by FY28. The brokerage also sees the company’s potential entry into the motorcycle segment as a long term growth opportunity. It added that policy measures such as ICE vehicle restrictions or additional EV incentives in more states, along with Ather’s inclusion in the PLI scheme, could provide further upside.

CLSA also maintained its Outperform rating on Ather Energy with a target price of Rs 1,600. The brokerage said Ather’s volumes rose 81% year on year in the first quarter of FY27, outpacing the electric two wheeler industry’s 68% growth. CLSA noted that bookings are running at around 50,000 units per month, well above the current production capacity of 35,000 units, indicating that the company is constrained by capacity rather than demand.

Ather Energy Q1 results snapshot

The company reported a sharp improvement in its June quarter performance, including a net loss narrowing to Rs 51 crore from Rs 178 crore and EBITDA turning positive despite commodity headwinds, Ather Energy has won fresh support from foreign brokerages, with target prices going as high as Rs 1,714. Shares of the company surged as high as 18% to Rs 1,500 on the BSE earlier in the day.

Ather’s revenue from operations jumped 88.8% year on year to Rs 1,217 crore. Consolidated EBITDA turned positive at Rs 9 crore during the quarter, against an EBITDA loss of Rs 106 crore a year earlier. Margins improved 319 basis points sequentially to -2.7% despite commodity headwinds.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Ashoka Buildcon shares jumped 10.44% to Rs 124.40 during Monday’s trading session after the company announced that it had received a Letter of Acceptance (LOA) from Rail Vikas Nigam Limited (RVNL) for a major infrastructure project in Uttarakhand.

The order, valued at Rs 602.16 crore, including GST, involves the supply, erection, testing and commissioning of electro-mechanical systems for four railway tunnels under the Rishikesh-Karnprayag New Broad Gauge Rail Line Project.

According to the company’s exchange filing, Ashoka Buildcon had earlier submitted its bid for Package-3, covering Tunnel T-13, T-14, T-15 and T-16 under Package E-4 of the project.

The Rs 602.16 crore order involves the execution of a broad range of electro-mechanical works for four railway tunnels under the Rishikesh-Karnprayag New Broad Gauge Rail Line Project in Uttarakhand.

As part of the contract, Ashoka Buildcon will undertake the supply, erection, testing and commissioning of 33/11 kV and 11/0.433 kV GIS substations, HT and LT cables, diesel generator (DG) sets, lighting systems, UPS systems, ventilation systems and fire-fighting systems, along with other associated works required for the tunnels.

The contract has been awarded by Rail Vikas Nigam Limited (RVNL) through a Letter of Acceptance (LOA) dated August 28, 2026.
Ashoka Buildcon said the project is scheduled to be completed within 30 months from the date of commencement. Under the contract, the company is also required to submit a performance bank guarantee of Rs 25.51 crore to RVNL. The project carries a defect liability period of two years.The order has been awarded by a domestic entity and does not constitute a related-party transaction. The company also stated that its promoter/promoter group has no interest in the awarding entity.

The sizeable order win provides a fresh boost to Ashoka Buildcon’s order book and puts the infrastructure company in focus amid continued spending on India’s railway and transportation infrastructure.

The company also informed exchanges that the trading window for designated persons and their immediate relatives will remain closed until 48 hours after the disclosure is made to the stock exchanges.

Stock performance and technical indicators

Ashoka Buildcon shares rallied more than 10% during the trading session, hitting an intraday high of Rs 125.37. Despite the sharp uptick, the stock continues to trade well below its 52-week high of Rs 214.50. At the current market price, the company commands a market capitalisation of around Rs 3,170 crore.

From a technical perspective, the stock’s 14-day Relative Strength Index (RSI) stands at 34.5. While an RSI below 30 is generally considered to indicate oversold territory and a reading above 70 signals overbought conditions, the current reading suggests the stock is approaching the oversold zone without entering it.

The technical setup also remains relatively encouraging, with Ashoka Buildcon trading above six of its eight key Simple Moving Averages (SMAs). This indicates that the recent price momentum has strengthened across several time frames and could keep the stock on investors’ radar.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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