Shares of Ather Energy rebounded nearly 7 per cent from day’s lows on Thursday amid the block deal buzz by National Investment and Infrastructure Fund II (NIIF II), which was reported to offload 2.34 per cent stake worth Rs 551 crore in the company in the pre-opening session. The floor price for the block deal was reported to set at Rs 620 apiece.
According to the data from NSE, nearly 87,02,119 equity shares of Ather Energy were offloaded at a price of Rs 622.35 in the block deal window on Thursday. The deal was valued at Rs 541.58 crore as of the data suggested. However, NSE’s data so far did not disclose the name of buyer(s) and/or seller(s). Business Today could not independently ascertain the same as of this report.
However, the heavy trading volumes suggest that the deal has been executed. As of 10 am on Thursday, nearly 38 lakh equity shares of Ather Energy were traded on NSE amounting to Rs 245 crore. Similarly, more than 23.13 lakh shares of the electric vehicle player, valued at Rs 145.73 crore, exchanged hands on BSE, suggesting heavy trading volumes.
Amid the heavy trading volumes, shares of Ather Energy recovered 6.6 per cent from day’s low at Rs 619.05 to Rs 659.90 on Thursday, commanding a total market capitalization close to Rs 25,000 crore. The stock had settled at Rs 628.55 in the previous session. The stock was up 5 per cent on a net-net basis.
Ather Energy Q2 results
On Monday, Ather Energy reported contraction in its net loss at Rs 154 crore in Q2FY26, while revenue from operations rose 54 per cent YoY to Rs 899 crore. The pure-play EV player’s Ebitda loss stood at Rs 132 crore. Volumes grew 67 per cent YoY and 42 per cent sequential (QoQ).
Ather Energy’s adjusted gross margin stood at 22 per cent, up 300 basis points YoY and down 100 bps sequentially. Ather’s market share increased 530 bps YoY, aided by continued store expansion. It now operates 524 experience centres compared to 446 in the previous quarter and aims to increase its store count to 700 by the end of FY26.
Ather Energy target price
While the current volume inflection is being led by dealership expansion, the next inflection from FY27/FY28 will be led by portfolio expansion via its upcoming low-cost EL platform, which will introduce more affordable models to the portfolio, thereby bringing in a new set of customers and expanding its addressable market, said HDFC Securities. “We expect Ebitda margin to improve persistently over the medium term.”
The company continues to impress with its capability to scale volumes and increase market share along with margin improvement, which is also being aided by continuing value engineering efforts, HDFC Securities added. “We value the company at 6 times EV/sales for a target price of Rs 837, and maintain a ‘buy’ rating. Ather Energy continues to be our top pick.”
Ather Energy IPO
Ather Energy made its stock market debut in May 2025, when the company raised a total of Rs 2,980.75 crore via its primary offering. The company sold its shares for Rs 321 apiece and the stock has doubled investors wealth in just six months of Dalal Street debut.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.