HDFC Securities initiates Ather Energy coverage with Buy call, sees 31% upside
HDFC Securities has started coverage of electric-scooter maker Ather Energy with a Buy rating and an estimated 31% upside. The call adds a near-term market signal as investors also track the release of nearly 6% of shares after the company’s lock-in expiry.
HDFC Securities initiated coverage of Indian electric-scooter maker Ather Energy with a Buy rating and projected 31% upside. The news page also lists Ather’s lock-in share release and investment-fund activity, alongside rare-earth supply risks for Indian automakers.
Why this matters
The coverage call follows resurfacing signals on Ather Energy's April 2025 IPO, including 28% Day 2 subscription and a fully subscribed retail quota, while a prior 31% upside signal was tied to the June lock-in expiry.
Retail-company signals are accelerating, up 390200% QoQ.