HDFC Securities starts Ather Energy coverage with Buy call, sees 31% upside
The brokerage’s initiation adds a market-validation signal for the electric-scooter maker following its IPO. Separate updates flagged a lock-in expiry affecting nearly 6% of Ather shares and ongoing rare-earth supply risks for Indian EV manufacturers.
HDFC Securities initiated Ather Energy coverage with a Buy rating and projected 31% upside. The news page also cites Ather’s IPO listing, lock-in expiry affecting nearly 6% of shares, and rare-earth supply risks for Indian EV makers.
Why this matters
The coverage initiation follows Ather Energy's April IPO demand signals, including 28% overall subscription on Day 2 with the retail quota fully booked and 63% retail subscription on Day 1.
Retail-company signals are accelerating, up 166333% QoQ.