Ola Electric share price gained as much as 9%, touching an intraday high of ₹40.51 per share on NSE, while Ather Energy share price surged over 4% to ₹1,648.60 on 10 September. According to The Hindu BusinessLine, the rally came amid strong buying interest in both electric two-wheeler stocks. Ola Electric shares rose from the previous close of ₹37.31, which was also the opening price and the day's low on Thursday, moving closer to the high of ₹41.12 recorded on August 31, 2026. Ather Energy shares surged from the previous close of ₹1,580, with the stock recently scaling a 52-week high of ₹1,744 on September 1, 2026.
Ola Electric's trading volume stood at 1,316.11 lakh shares with traded value at ₹519.60 crore, as reported by The Hindu BusinessLine. The stock's total market capitalisation stood at ₹18,416.44 crore. For Ather Energy, the total traded volume was 52.23 lakh shares with traded value at ₹852.88 crore, with the company's market capitalisation at ₹64,767.89 crore. For a week, Ola Electric's absolute returns were up 6.35%, while the stock gained 1.40% over the month and was up 6.21% year-to-date. Ather Energy's absolute returns stood at 0.21% for the week, rose 12.02% for the month, and jumped 122.40% year-to-date.
According to The Hindu BusinessLine, Ola Electric gained momentum as investors gathered pace after a three-session decline in the stock. The buying interest comes after the company announced the launch of its first batch of dealer-led stores, just a month after opening its sales and service network to partners. The company said its initial network-partner stores had commenced operations across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh. The dealer-operated outlets are likely to expand Ola Electric's footprint in key regional markets while catering to local demand for its scooters and motorcycles. Recent developments include the board approving a fundraise of up to ₹1,500 crore, marking its second capital-raising exercise in three months.
As reported by The Hindu BusinessLine, Ather Energy's share price rally was driven by global brokerage Nomura raising its target price for the electric two-wheeler manufacturer. Nomura retained its 'Buy' rating on Ather Energy and increased the target price to ₹1,926 per share from ₹1,714 earlier. The new target price implies an upside of nearly 22% from the previous close of ₹1,580. Nomura has valued the company at 5.5x FY29F EV/sales and expects the upcoming Konarc launch could open another growth leg. The brokerage has raised its revenue growth forecast to 54%/100%/31% over FY27F/28F/29F and sees an improvement in Ebitda margins to +7.6% by FY29F from -6.2% in FY27F. The company is expected to achieve PAT breakeven in FY28F.
According to The Hindu BusinessLine, Nomura noted that EV adoption is running faster than earlier expectations, with EV 2W penetration growing 10.7% for 2Ws in August 2026 versus 7.7% in the same month a year ago. Analysts believe that even this is under-represented by around 20% due to lack of supply. Nomura has raised its EV 2W penetration forecast to around 22% by FY30F vs 19.6% earlier. The brokerage highlighted that the story is increasingly becoming a category-growth and market-share story rather than just an EV adoption bet. Ather Energy shares have more than doubled investors' money in 2026 so far, surging 122.40%, even as the benchmark Nifty 50 has declined 10.3%.
