India, Oct. 8 -- Shares of EV maker Ather Energy surged 7.8% to INR 678.50 to touch a fresh all-time high during the intraday trading on the BSE today after HSBC raised its target price (TP) for the company.

The brokerage increased the TP for Ather to INR 700 from INR 600 earlier. The new TP translates to over 11% increase from Ather's closing price yesterday (INR 629.55).

HSBC estimates Ather's sales volumes to consistently see an uptick on the back of increase in the number of stores. "As the company has opened more stores, volumes have consistently increased over the last couple of months, despite intensifying competition from incumbents," it said in its report.

HSBC expects Ather's sales to zoom 22% QoQ in Q2 FY26 as retail sales i...