BlackRock invests in Ather Energy. An electric Konarc escooter at a charging station.
Asset management titan BlackRock has significantly increased its stake in Ather Energy, the electric vehicle (EV) manufacturer, by acquiring approximately 2.6 million shares through an open-market transaction valued at ₹445.3 crore. This strategic investment underscores growing institutional confidence in India’s burgeoning EV sector.
The acquisition, executed via BlackRock Global Funds, involved purchasing 2.59 million shares at ₹1,713.02 per share. This price point represented a slight premium of 2.1% over Ather Energy’s closing price on the preceding Monday, indicating strong demand for the stock.
This substantial share purchase coincides with Ather Energy’s inclusion in the MSCI India domestic small-cap index. The company’s stock also reached an all-time high of ₹1,704.1 during intraday trading, partly driven by the recent launch of its new Konarc escooter.
The Konarc, unveiled during Ather’s annual Community Day, enters the mass-market electric two-wheeler segment with a starting price of ₹99,999. Built on Ather’s new EL platform, it offers variants across the S and Z product lines, with claimed IDC ranges spanning from 100 km to 200 km. The launch also featured advancements such as an electronic braking system and a 450-watt onboard charger.
Following these developments, Emkay Global Financial Services revised its target price for Ather Energy stock upwards by 37.5% to ₹2,200 per share, from an earlier ₹1,600.
Further bolstering Ather Energy’s investor base, auto major Hero MotoCorp recently acquired an additional 3% stake for up to ₹1,758 crore. The company’s improving financial performance has also contributed to its recent market momentum. In Q1 FY27, Ather reported a narrowed consolidated net loss of ₹51 crore, a 71% reduction year-on-year, while operating revenue surged 79% YoY to ₹1,227 crore.
These positive factors have propelled Ather Energy’s stock, which has seen an increase of 78.2% over the past three months and 127.6% on a year-to-date basis. Ather Energy’s shares closed Monday’s trading session at ₹1678.2 on the BSE, reflecting a 4.11% gain.
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