Ola Electric, Ather Energy shares rally upto 9%, what is driving EV stocks today?

On Thursday, Ola Electric and Ather Energy witnessed a surge in their stock prices as investors took notice of their performance. Ola Electric shares experienced an 8.5 percent increase, reaching a peak of ₹40.51, while Ather Energy shares climbed over 4 percent to ₹1,648.60. The momentum for Ola Electric followed a three-day decline, as the stock rose from its previous close of ₹37.31, which was also the opening price and the day's low.

The stock neared the high of ₹41.12 achieved on August 31, 2026, with a traded volume of 1,316.11 lakh shares and a traded value of ₹519.60 crore. Over the past week, Ola Electric's absolute returns stood at 6.35 percent, with a month-on-month gain of 1.40 percent, and a year-to-date increase of 6.21 percent. The company's total market capitalisation was valued at ₹18,416.44 crore.

Notably, Ola Electric recently approved a fundraise of up to ₹1,500 crore, marking its second capital-raising exercise in three months, and launched its first cohort of network-partner stores across several Indian states. Ather Energy's shares surged by more than 4 percent, reaching an intraday high of ₹1,648.60, following the previous close of ₹1,580.

The stock's market capitalisation stood at ₹64,767.89 crore. Ather Energy recently scaled a 52-week high of ₹1,744, and the company's shares were in focus after Nomura raised its target price to ₹1,926 per share while maintaining a buy rating. Nomura expects the upcoming Konarc launch to open another growth leg for Ather Energy, with EV adoption expanding faster than earlier expectations.

The brokerage anticipates electric two-wheeler penetration to reach 22 percent by FY30, focusing on Konarc execution, market-share gains, and unit economics improvements as key areas to watch.