ATHERENERG

** Shares of e-scooter maker Ather Energy ATHR.NS rise 7.7% this week, set for fifth straight weekly rise

** HDFC Securities reiterates "buy" and considers ATHR as top pick; sets PT at 748 rupees

** Says co's expansion from 351 to 700 stores by next year and plans to launch more affordable models from late FY27 will drive growth and profitability

**Notes benefits from operating leverage, move to lower cost rechargeable lithium-ion battery and EL platform with better monetization of its software and accessories to help towards positive EBITDA in FY28

** A more seamless transition to using the light rare earth magnets from heavy rare earth magnets, avoids any meaningful production impact, unlike competition - HDFC Securities

** Stock up ~93% since listing on May 6

(Reporting by Urvi Dugar)

(([email protected]))

** Shares of TVS Motor TVSM.NS rise 1.35% to 3,299 rupees; set to snap three days of losses, if current trend holds

** The bike maker launches an eScooter, Orbiter, which is priced at 99,900 rupees

** UBS ("Buy", PT: 3,475 rupees) says Orbiter is well-positioned to compete with peers such as Ather's ATHR.NS Rizta and Bajaj's BAJA.NS Chetak, offering comparable specs at a more attractive price point

** Expects Orbiter to sell ~15,000 units every month post ramp-up, brokerage says, likely about ~5% share of co's 2025 April-July domestic 2-wheeler volumes

** Says may follow up with a delivery-focused electric two-wheeler at a more accessible price, and optimistic for the all-new Ntorq, possibly extending to 150cc

** Thirty-five analysts have "buy" rating on avg; median PT is 3,020 rupees - data compiled by LSEG

** Stock up ~37%, YTD

(Reporting by Urvi Dugar)

(([email protected]))

Aug 8 (Reuters) - Ather Energy Ltd ATHR.NS:

• POPULAR VEHICLES AND SERVICES - UNIT KUTTUKARAN CARS RECEIVED TWO LETTERS OF INTENT FOR SETTING UP ATHER FACILITIES

• POPULAR VEHICLES AND SERVICES - TOTAL INVESTMENT FOR SETTING UP FACILITIES AROUND 12 MILLION RUPEES

Source text: ID:nnAZN4C5PP6

Further company coverage: ATHR.NS

(([email protected];;))

Aug 4 (Reuters) - India's Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday, helped by higher demand for its e-scooters, particularly the best-selling "Rizta".

The company, founded in 2013, said its loss narrowed to 1.78 billion rupees ($20.31 million) for the quarter ended June 30 from 1.83 billion rupees a year ago.

($1 = 87.6320 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected]; +91 8921483410;))

** HDFC Securities expects muted earnings for India's auto sector in Q1 FY26, citing weak demand, rising input costs, and regulatory headwinds

** Brokerage sees TVS TVSM.NS, Eicher EICH.NS, and Mahindra & Mahindra MAHM.NS outperforming on the back of strong product mix and execution, but warns that margins across the manufacturers will be hit

** Two-wheeler and commercial vehicle makers face added pressure from new OBD-2 norms and AC cabin mandates - HDFC Securities

** Auto ancillaries are exposed to global headwinds, with Balkrishna Industries BLKI.NS expected to be hurt by freight costs and Bhuj plant risks

** HDFC Securities highlights rare earth magnet shortage as a near-term risk to EV and ICE production, with India's reliance on China adding cost and quality concerns

** Adds Ather Energy ATHR.NS and Ashok Leyland ASOK.NS to top picks, prefers Bharat Forge BFRG.NS for defense exposure, and retains "buy" rating on Maruti MRTI, Hero MotoCorp HROM.NS, and Mahindra

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

Adds more details on expansion from paragraph 2

June 18 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS said on Wednesday it plans to double its retail network to 700 centres across India by the end of fiscal 2026 as it looks to strengthen its reach in the northern parts of the country.

As of March 31, Ather had 351 centres in India, with almost half located in South India, where the company established its base when it was founded in 2013.

Ather will triple its store count in North India and expand in east and west markets by the end of current fiscal, it added.

Ather says that the expansion is driven by the success of its more family-oriented 'Rizta' scooter, which currently makes up nearly 60% of the company's total sales.

The company, which debuted on the stock market last month also said that it will expand its service centres along with the expansion of its retail network, without giving more details.

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected]; +91 8921483410;))

Adds details, background from paragraph 3 onward

May 20 (Reuters) - Schloss Bangalore, the owner of Leela luxury hotels, has slashed its IPO size by 30% to 35 billion rupees ($409 million), joining a growing list of companies that have trimmed their issues due to market uncertainty.

Brookfield-backed BAM.TO Schloss, which initially planned a 50 billion-rupee initial public offering, will run the issue from May 26-28, its updated prospectus showed on Tuesday. Large "anchor" investors will get to bid on May 23.

Several companies seeking to tap the Indian capital market this year have either delayed their IPOs or downsized their issues as the domestic market faced turbulence due to global trade worries and a domestic border conflict.

India's blue-chip Nifty 50 .NSEI has rebounded in recent weeks and is up 4% for the year, after the country held a ceasefire with Pakistan and as some trade tensions eased. The index is still 6% off record highs it hit last September.

Schloss did not specify in its prospectus why it had cut the IPO size.

The company's IPO is still India's second-largest public float so far in 2025, where proceeds are down about 5% from a year before, according to LSEG data from May 6.

Last month, Hero MotoCorp-backed e-scooter maker Ather Energy ATHR.NS slashed its valuation by 44%, with its existing investors offloading only half the number of shares they initially planned to sell.

Education loan provider Avanse Financial Services, contract drug maker Anthem Biosciences and South Korean conglomerate LG Electronics' 066570.KS India unit LGEL.NS have also put IPO plans on hold.

Schloss will sell fresh shares worth 25 billion rupees, down from an initially planned 30 billion rupees, while Brookfield plans to sell shares worth 10 billion rupees - half of its original plan.

The company, which runs 13 hotels, will use proceeds from the sale of new shares to repay its borrowings.

($1 = 85.5520 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shinjini Ganguli and Shailesh Kuber)

(([email protected]; Mobile: +91 9591011727;))

Rewrites paragraph 1, adds details from earnings call, presentation throughout

By Nandan Mandayam

May 12 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS, founded in 2013, reported a smaller full-year loss for the first time ever on Monday, as strong demand for its 'Rizta' scooter and lower unit costs boosted margins.

Ather started selling e-scooters in 2018, becoming a pioneer in the Indian market, but has since fallen behind Ola Electric OLAE.NS and legacy rivals, who are better funded and have a wider distribution network.

The company, which debuted on the stock market last week, has sought to close the gap with the launch of the more family-oriented 'Rizta' and by using its engineering heft to lower costs.

That helped its net loss narrow to 2.34 billion rupees (about $28 million) in the fourth quarter, from 2.83 billion rupees a year ago. Its full-year loss shrank to 8.12 billion rupees from 10.6 billion rupees.

"Our reduction of losses and improvement of margins have happened on the back of our focus on software and a strong R&D-led cost reduction," CEO Tarun Mehta said.

Mehta, who has referred to Ather's e-scooters as the "Apple of electric two-wheelers", said the company could achieve profitability "at a lower scale than some of our peers." He did not give details or a timeline.

Its closest rival, Ola Electric, is also posting losses, while legacy two-wheeler companies, including market leader and Ather's biggest shareholder Hero MotoCorp HROM.NS, do not give separate results for their electric vehicle sales.

Strong demand for the 'Rizta' helped Ather's fourth-quarter revenue increase 29%.

The company hopes the 'Rizta' and other launches will help it expand in north and west India, and is backing its R&D prowess to cut production costs.

This, said Mehta, has already helped Ather cut full-year unit costs by nearly 20%, leading to adjusted gross margin, including government subsidies, doubling to 19%.

Ather's earnings margin before interest, taxes, depreciation and amortisation (EBITDA) margin improved to negative 23% from about negative 36%.

($1 = 84.8270 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Savio D'Souza)

(([email protected]; Mobile: +91 9591011727;))

May 7 (Reuters) - Ather Energy Ltd ATHR.NS:

• NIRANJAN KUMAR GUPTA RESIGNS AS NON-EXECUTIVE DIRECTOR OF ATHER ENERGY

Source text: ID:nBSE2zktt7

Further company coverage: ATHR.NS

(([email protected];))

** India's Ather Energy ATHR.NS open higher, but reverses to trade down nearly 3% in first day of trading

** The stock listed at 328 rupees on NSE, a 2.2% premium to its 321-rupee issue price

** Stock last trading at about 312.50 rupees

** Listing was along expected lines as issue was aggressively priced, especially when benchmarked against peer Ola Electric OLAE.NS, says Prashanth Tapse, senior VP (Research) at Mehta Equities

** More than 9 million shares changed hands as on the day

(Reporting by Vivek Kumar M)

(([email protected];))