Buzzing Stocks: Ather Energy, KEI Industries gain; LIC, Kalpataru under pressure
Ather Energy surged 5% after HSBC reiterated its Buy rating and raised the target price to ₹1,450.
Buzzing Stocks
Stock-specific action dominated the market on August 4, as investors reacted to June-quarter earnings, brokerage upgrades and key corporate developments. Ather Energy and KEI Industries emerged among the top gainers, while LIC and Kalpataru came under selling pressure.
Ather Energy surged 13% after HSBC reiterated its Buy rating and raised the target price to ₹1,450. The brokerage cited better-than-expected margin performance driven by lower operating expenses, while expecting strong volume growth and market share recovery supported by new capacity additions. HSBC also said Ather’s premium valuation is justified by its strong EV brand and execution.
KEI Industries gained 7% after reporting a robust June-quarter performance. The company posted a 40% YoY jump in net profit to ₹274.1 crore, while revenue increased 23% YoY to ₹3,185.3 crore. The board also approved a ₹700 crore capacity expansion at its upcoming manufacturing facility in Rajasthan.
Life Insurance Corporation of India (LIC) fell 5.5% after the Government of India launched an Offer for Sale (OFS) to divest up to a 6.5% stake in the insurer on August 4-5, with a floor price of ₹382 per share.
Kalpataru declined nearly 5% despite reporting an improvement in its June-quarter earnings. The company’s loss narrowed to ₹26.5 crore from ₹49.4 crore a year ago, while revenue rose 6.5% YoY to ₹472.2 crore.
Investors are expected to keep a close watch on these counters as earnings announcements, brokerage actions and company-specific developments continue to drive stock-specific movements through the trading session.