Ather Energy shares surged nearly 4 per cent to a fresh 52-week high of ₹1,125 on the NSE on Tuesday after the Delhi Cabinet approved the Electric Vehicle Policy 2026.
The policy announcement also lifted other EV-related stocks, while SBI Securities said the measures are positive in the long term for companies across the electric mobility ecosystem.
Atul Auto soared over 4 per cent to ₹495.40, while TVS Motor Company gained 1 per cent to ₹3,504.20. Bajaj Auto traded flat after scaling an intraday high of ₹9,686. Sona BLW, Minda Corp and Uno Minda also posted mild gains in early trade.
Under the Delhi Electric Vehicle Policy 2026, only electric auto-rickshaws will be registered in the national capital from January 1, 2027. The policy also mandates that only electric two-wheelers will be registered from April 1, 2028.
The policy provides purchase incentives for electric vehicles priced below ₹30 lakh through a 100 per cent exemption on road tax and registration fees. It also envisages an investment of around ₹15,000 crore over the next four years to accelerate EV adoption and expand charging infrastructure.
SBI Securities said the policy is positive in the long term for the electric vehicle sector. According to the brokerage, stocks that stand to benefit include Ather Energy, TVS Motor Company, Atul Auto, Bajaj Auto, Sona BLW, Minda Corp and Uno Minda.