Goldman Sachs identifies 42 Indian stocks riding AI build-out
Indian markets moved lower in an infrastructure development.
29 Sept 2026 · Economic Times Markets, ET Stocks
Several Indian companies are emerging as significant players in the AI infrastructure sector, according to Goldman Sachs. These 'AI Enablers' span industries such as power, data centres, and semiconductors. While the Nifty index has fallen, this group of companies has experienced substantial gains. However, their valuations remain high, with a noted premium over MSCI India.
The analysis
This is an Index / institutional flows event. Passive and institutional flows move price independently of fundamentals, and around rebalancing dates they dominate it.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Why it matters
- Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
Market context
- This is a market-wide development — its reach goes beyond any single stock.
- Sector exposure: Power.
- The immediate tone of coverage reads positive.
In this story
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