Ather Energy Surges 26.8% as CarTrade Drops 22% in Tech Stocks

Ather Energy led a broad rally in India's new-age tech stocks this week, climbing 26.8% to close at ₹1,755.05 after posting its first-ever quarterly net profit. The stock touched a fresh all-time high of ₹1,782.05 during the week.

Of the 69 stocks tracked, 40 gained between 0.2% and 26.8%, while 29 declined by up to 22.3%. Recently listed Zetwerk rose 18% and Tonbo Imaging gained 15.3%. Nykaa, Eternal and Shadowfax joined Ather in hitting 52-week highs, but 15 stocks, including Swiggy, FirstCry, MapmyIndia and LEAP India, touched fresh lows. Combined market capitalisation rose 5.7%, or $8.62 Bn, to $160.94 Bn.

Earnings split the winners from the losers

Ather reported a Q2 FY27 consolidated net profit of ₹1.3 Cr, against a loss of ₹154.1 Cr a year earlier. Operating revenue grew 62.9% to ₹1,464.2 Cr, and EBITDA of ₹74.2 Cr lifted its margin to 4.9% from negative 9.6%. Other income of ₹62.7 Cr, however, remained an important contributor.

CarTrade went the other way, sliding 22.3% to ₹2,189.95. Net profit rose 3% to ₹66 Cr and revenue grew 10.2% to ₹213.1 Cr, but revenue from its core consumer business rose only 4%, against 18% in the previous quarter, and missed JM Financial's estimate by 12.4%. Monthly unique visitors fell 17.9% year on year to about 43 Mn. JM Financial cut its rating to 'ADD' from 'BUY' and lowered its price target 25.4% to ₹2,650, citing traffic concerns and the potential impact of AI on classifieds.

Other company news and the wider market

Nazara Technologies put $77 Mn into its UK arm to fund the second tranche of its Bluetile Games and Bestplay Systems acquisition. E2E Networks added 5.4 MW of AI capacity, taking it to about 14.6 MW, with NVIDIA Blackwell GPUs. Zelio E-Mobility opened a Haryana plant with annual capacity for 72,000 vehicles.

The Sensex gained 1.8% to 74,459.53 and the Nifty 50 rose 2% to 23,053.10. Foreign institutional investors bought ₹6,305 Cr of Indian equities, ending a 10-week selling streak. Investors will now watch the US midterm elections, Brent crude, geopolitical developments and further quarterly results.