Hero MotoCorp Expands Stake in Ather Energy; Markets Open Higher Amid Global Cues

Hero MotoCorp is set to acquire shares in Ather Energy worth up to ₹1,758 crore to raise its stake to 32.8%. Meanwhile, Indian stock markets opened higher as investors tracked global tech earnings, Federal Reserve commentary, and crude oil prices.

Indian stock markets opened on a positive note on August 28, 2026, supported by Gift Nifty pointing toward a higher start at 24,260. Investor sentiment, however, remains cautious amid ongoing geopolitical tensions and macroeconomic uncertainties.

Global market cues were mixed, with Wall Street closing largely flat to higher, supported by strong results from Nvidia that lifted technology and semiconductor stocks and pushed the Nasdaq up by about 1.5%. Market participants are closely watching the Jackson Hole keynote by Kevin Warsh for potential clues regarding the U.S. Federal Reserve's September policy path. Meanwhile, crude oil prices remained in focus, with WTI hovering near $83 to $84 a barrel, alongside developments in the Strait of Hormuz involving Iran and Oman.

In corporate developments, Hero MotoCorp announced plans to buy shares of electric two-wheeler maker Ather Energy worth up to ₹1,758 crore, increasing its total stake in the company to 32.8% as competition in the EV segment intensifies. In another major transaction, Morgan Advanced Materials sold its entire 15.26% stake in Foseco India for ₹678.62 crore to a mix of domestic and foreign investors.

The primary market also saw activity with multiple initial public offerings opening on August 28. The Priority Jewels IPO opened with a price band of ₹190 to ₹200 per share, while the ESDS Software Solutions IPO opened with a price band of ₹408 to ₹429 per share.

In the broader equity market, analysts noted that frontline indices remain range-bound with visible profit booking at higher levels. Trading advisors recommend avoiding aggressive overnight positions, maintaining selectivity, and adopting a buy-on-dips approach for fundamentally sound stocks with strict risk management.

"The strategic move by Hero MotoCorp to increase its stake in Ather Energy highlights the ongoing consolidation and commitment by legacy automakers in the Indian electric two-wheeler market. As competition intensifies, established players are deepening their investments in EV technology platforms. At the same time, broader market volatility and upcoming IPOs require investors to maintain disciplined risk management and a selective approach." — Dr. Shishir Gupta, Founder & CEO, StartupLanes