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Asset management firm BlackRock has purchased nearly 26 lakh shares of electric vehicle maker Ather Energy via an open-market transaction worth INR 445.3 crore. According to NSE data, BlackRock, through BlackRock Global Funds, bought 25.9 lakh shares at INR 1,713.02 apiece, a premium of 2.1% to the stock’s previous closing price.
The purchase came on the same day Ather was added to the MSCI India Domestic Small Cap Index. The stock touched an all-time high of INR 1,704.1 during intraday trading after the company launched its Konarc e-scooter at its annual Community Day.
Priced at INR 99,999 for the entry-level variant, the Konarc is built on Ather’s new EL platform and will be available across the S and Z product lines, with a claimed IDC range of 100–200 km.
Following the launch, brokerage Emkay Global Financial Services raised its target price for Ather’s stock by 37.5% to INR 2,200 from INR 1,600 earlier. The rally also follows Hero MotoCorp’s acquisition of an additional 3% stake in Ather for up to INR 1,758 crore.
On the financial front, Ather narrowed its consolidated net loss by 71% to INR 51 crore in Q1 FY27 from INR 178 crore a year earlier, while operating revenue rose 79% year-on-year to INR 1,227 crore. The stock has gained 78.2% over the past three months and is up 127.6% year-to-date, closing Monday’s session 4.11% higher at INR 1,678.2 on the BSE.
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