Ather Energy shares rise 9%, hit record high; here's why 

Shares of Ather Energy hit their all-time high on Wednesday after a report said the board of two wheeler maker Hero MotoCorp approved an investment of up to Rs 1,000 crore ($103.95 million) in the homegrown EV maker. Ather Energy shares hit their record high of Rs 1313.65, rising 9.20% in the current session against the previous close of Rs 1202.95. Market cap of the firm stood at Rs 50,175 crore. 

According to a Reuters report, Hero, the Bengaluru-based EV maker's biggest shareholder, said its post-transaction stake will depend on the pricing and the structure of the proposed securities issue.

Hero MotoCorp held a 29.48% stake in Ather Energy as of June 30, reaffirming its position as one of the electric two-wheeler maker's largest shareholders.

The company has announced plans to further increase its investment in Ather Energy through a preferential allotment of equity shares or convertible securities, underscoring its long-term commitment to the fast-growing electric mobility segment.

The proposed transaction is expected to be completed within 15 days of receiving the necessary regulatory and corporate approvals.

Ather Energy was among the early pioneers of India's electric two-wheeler industry and played a key role in shaping the premium EV scooter market. 

However, in recent years, competition has intensified as established automakers such as TVS Motor and Bajaj Auto aggressively expanded their electric vehicle portfolios. Backed by stronger balance sheets, extensive dealer networks and larger manufacturing capabilities, these rivals have steadily increased their market presence, putting pressure on early entrants like Ather.