New Delhi, July 15 -- Ather Energy share price surged over 9% to hit a fresh 52-week high on Wednesday after Hero MotoCorp announced an additional investment of up to Rs.1,000 crore in the electric vehicle (EV) maker. The EV stock rallied as much as 9.20% to a 52-week high of Rs.1,313.65 apiece on the BSE.

The sharp rally followed Hero MotoCorp's announcement that its Committee of Directors, at a meeting held on July 14, approved an additional investment of up to Rs.1,000 crore in Ather Energy, an existing associate company engaged in the design, manufacture, sale and servicing of electric two-wheelers.

"The transaction entails subscription to equity shares or other eligible securities representing equity shares or convertible into or e...