HDFC Securities starts Ather Energy coverage with Buy call, sees 31% upside
HDFC Securities has initiated coverage on Ather Energy with a Buy rating and a projected 31% upside, citing India’s electric-vehicle opportunity. The update also flags rare-earth supply risks and forthcoming shareholder lock-in expiries as factors to watch.
HDFC Securities initiated Ather Energy coverage with a Buy rating and projected 31% upside, citing India’s EV opportunity. The archive also flagged China’s rare-earth export curbs as a potential constraint on Indian EV production and noted upcoming lock-in expiries.
Why this matters
The coverage call follows Ather Energy’s post-IPO signals, including its Day 2 IPO subscription of 28%, retail-book subscription, and ongoing tracking of lock-in expiries and EV supply-chain risks.
Retail-company signals are accelerating, up 226267% QoQ.