Ather Energy shares extended their rally on Tuesday, rising 4 percent in early trade after surging more than 14 percent in the previous session. Brokerages Nomura and HSBC raised their price targets following the electric two-wheeler maker's strong fiscal second quarter earnings.
Ather Energy stock was trading at Rs 1,638 in early deals, gaining 4 percent and ranking among the top gainers on the BSE 500 and NSE 500 indices. The stock was also among the most actively traded counters on both exchanges.
The stock has surged 121 percent so far in 2026, sharply outperforming the Nifty 50, which has declined 13 percent during the same period. Ather Energy's market capitalisation stood at approximately Rs 65,000 crore.
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Nomura maintained its 'Buy' rating on Ather Energy and raised its price target to Rs 2,070 from Rs 1,926, implying an upside potential of 31 percent from Monday's closing price. The brokerage reaffirmed Ather Energy as its top pick in the electric two-wheeler segment, citing stronger growth visibility with Konarc, better-than-expected average selling prices (ASPs) and margins in Q2, and robust bookings.