TVS vs Bajaj Auto vs Ather vs Ola: Who is winning India's electric two-wheeler race? What latest October data reveals
Bajaj Auto is in focus.
· LiveMint Companies
For now, TVS Motor is the clear winner in the electric two-wheeler race, but Hero MotoCorp's growth and Ather Energy's financial progress suggest that the competition is far from settled.
The analysis
Against that, the stock is -0.1% on the day at ₹10,339.00, and has returned -10.3% over three months. It sits 16% below its 52-week high. The auto sector has moved -6.8% over the same period, so Bajaj Auto is running 3.5 points behind its peers.
With Bajaj Auto, TVS Motor and Hero Motocorp all implicated, this reads as a Auto-level move rather than a company-specific one, which is the more durable kind of signal.
Market context
- 4 of the 4 companies named are in Auto, so the story reads across that sector rather than for one company.
- On the day, 3 of 4 are higher: Ather Energy leads at +1.1% and Bajaj Auto trails at -0.1%.
- Over three months: Bajaj Auto -10.3% against Auto -6.8% (3.5 points behind); TVS Motor -2.3% against Auto -6.8% (4.5 points ahead); Hero Motocorp -3.6% against Auto -6.8% (3.2 points ahead); Ather Energy +40.8% against Auto -6.8% (47.6 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Bajaj AutoBAJAJ-AUTO · Auto | ₹10,339.00 | -0.1% | +2.9% | -10.3% | -16.4% | 1.2× | — |
| TVS MotorTVSMOTOR · Auto | ₹4,213.00 | +0.4% | +4.8% | -2.3% | -5.7% | 0.8× | — |
| Hero MotocorpHEROMOTOCO · Auto | ₹5,193.00 | +0.5% | +0.5% | -3.6% | -18.2% | 1.1× | — |
| Ather EnergyATHERENERG · Auto | ₹1,774.60 | +1.1% | +26.2% | +40.8% | 0.0% | 0.9× | — |
Auto
1M -1.5% · 3M -6.8%
Bajaj Auto, TVS Motor, Hero Motocorp, Ather Energy
Financial Services
1M -5.1% · 3M -13.9%
Prices as of 2 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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