HDFC Securities initiates Ather Energy coverage with Buy call, sees 31% upside
HDFC Securities has initiated coverage on electric-scooter maker Ather Energy with a Buy rating and a projected 31% upside, citing the company’s position in India’s growing EV market. The broader update also flags rare-earth supply risks for domestic EV production.
HDFC Securities initiated Ather Energy coverage with a Buy rating and projected 31% upside, citing EV-market potential. The page also highlights rare-earth export risks to Indian EV production and Ather shares becoming tradable after lock-in expiry.
Why this matters
The Buy initiation follows Ather Energy’s IPO retail tranche reaching 63% subscription on Day 1 in April 2025 and extends recent post-IPO attention to supply-chain watchpoints.
Retail-company signals are accelerating, up 200643% QoQ.