Ather Energy, an electric two-wheeler manufacturer, saw its share price rise by 8% to a record ₹986.80 on the Bombay Stock Exchange, buoyed by a strong demand outlook and impressive earnings. The stock has rebounded 64% from its February 2026 low of ₹599.50, and has increased 229% from ₹299.70 over the past year. In Q4FY26, the company reported a 74% year-on-year revenue growth, driven by network expansion and improved market share, which rose from 8% to 18.6%. The management highlighted a significant reduction in EBITDA losses, improving from 23% to approximately -2%. Despite this positive momentum, analysts from Equirus Securities caution that rising commodity costs, particularly lithium, could pressure margins moving forward. They have revised their rating to ADD, setting a target price of ₹1,010 for September 2027, noting that while Ather's growth outlook remains strong, near-term performance may face challenges due to capacity constraints and commodity headwinds.