5 Indian Companies that are Leading the AI Race

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

5 Indian Companies that are Leading the AI Race

Sep 9, 2021

Artificial Intelligence (AI) is no longer a thing of the future. It's here and exists everywhere around us.

AI has become intertwined with every aspect of our lives. Each one of us is currently using this technology in one form or the other. From personal digital assistants like Siri, google assistant, Alexa, to self-driving cars, it's being used very widely.

The use is increasing on a daily basis in fast growing sectors such as healthcare, finance, e-commerce, and manufacturing.

Also, businesses like Swiggy and Zomato, which have invested heavily in AI over the past couple of years, have witnessed the power of technology to both sustain and increase growth. This has steered the discussion towards AI's potential for other companies in India.

--- Advertisement ---
Going LIVE Today: EV Gold Rush Special Event

Today at 5 PM sharp, we will go LIVE with our special event - the EV Gold Rush.

At the event, Tanushree will share with you the complete details of our multi-year research on electric vehicles...

Including details of 3 stocks to ride this massive 15x EV opportunity.

Tanushree believes these 3 stocks could potentially offer life-changing gains in the long run.

Don't miss it for anything.

Click the link below to register for free.

Click here to sign up for FREE.

According to a report by Accenture, it's expected that AI has the potential to make up 15% of India's current gross value in 2035 or US$957 bn.

In the coming years, AI will transform the way we live and work.

With increasing demand for AI technology, investor interest in AI stocks has also increased.

Here's the list of top Indian companies working on AI in the Indian stock market.

#1. Coforge

Coforge is an IT services company providing end-to-end software solutions and services.

It is among the top-20 Indian software exporters.

The company was formerly known as NIIT Technologies and was incorporated in April 2003.

It provides AI-based digital business assistants, deep learning, machine learning, multi-currency, multi-lingual, multi-channel experience, image recognition, robotic process automation (RPA), natural language processing (NLP), and workflow automation.

In the past, the company has made a few acquisitions to increase revenue and enhance geographical and customer presence.

In April 2021, Coforge completed its strategic investment in SLK Global Solutions. SLK Global has deep domain expertise in the banking and insurance segments in North America. It enjoys multiple long-standing and scalable relationships with marquee clients with strong growth potential.

Over the span of five years, the company has given a return of 1,202%. Currently, shares of Coforge are trading at Rs 5,136 per share.

#2. Happiest Minds Technologies

Happiest Minds is an IT consulting and services firm that was founded in 2011.

The company works on disruptive technologies such as artificial intelligence, cloud, internet of things (IoT), blockchain, robotics/drones, virtual reality, and other services.

Artificial intelligence is used by the firm for language processing, picture analytics, video analytics, and upcoming technologies such as AR and VR.

--- Advertisement ---
The Rebirth of India

India's leading research analyst, Tanushree Banerjee, will show our readers how an upcoming mega shift would drastically change the state of the Indian economy...

And how investing in three high-potential stocks at the heart of this rebirth...

...could potentially hand them 100%, 300%, 500%, even 1,000% or more in the long run.

Since you are one of our valued readers, we sincerely urge you to head over here for more details

In addition, the company assists organisations in using robots using AI, leading to time and cost savings.

In September 2020, the firm was listed on the stock exchange. It's one of the most popular Indian artificial intelligence stocks.

Ashok Soota the executive chairman of the company is the main promoter and was earlier founding Chairman & MD of Mindtree. Prior to Mindtree, he led Wipro's IT business for fifteen years.

Since its listing, the company has managed to give a return of 290.8%. Happiest Minds shares are trading at Rs 1,445 on the BSE.

#3. Saksoft

Saksoft is a leading provider of information management solutions to successful companies around the world.

The company is a mid-sized IT company and provides end-to-end business solutions that leverage technology and enables their clients to enhance business performance.

It mainly focuses on getting transformations through efficiency, productivity, enhanced customer decisions, and service innovations by increasing the combination of AI and automation.

Saksoft gives a boost to digital transformation and applies intelligent automation to solve major business problems with the assistance of modern technology like IoT, AI, machine learning, and automation.

The company has delivered good profit growth of 20.1% compound annual growth rate (CAGR) over last 5 years. Saksoft shares are trading at Rs 913 on the BSE.

#4. Tata Elxsi

Founded in 1989, Tata Elxsi is a part of the Tata Group and performs in the midcap range in the stock market.

Today Tata Elxsi is one of the leading providers of design and technology services in various industries. These include automotive, broadcasting, communication, healthcare, and transportation.

When it comes to AI, the company has had success in various fields like self-driving cars, video analytics solutions etc.

Going LIVE Today at 5pm: The EV Gold Rush Special Event

Tata Elxsi Artificial Intelligence Centre of Excellence addresses the increasing demand for intelligent systems. It allows its customers to use cloud-based integrated data analytics frameworks that feature patent-pending technology to get actionable insights and outstanding returns.

On the financial front, the company has performed well over the last few quarters. It has had a compounded profit growth of 19% for the last 5 years.

In the past five years, stock has provided 535% return compared to Nifty IT that returned 95% returns to the investors.

#5. Persistent Systems

Persistent Systems Ltd (PSL) is a niche IT player and market leader in outsourced software product development services.

Over the years, it has successfully established its presence in AI space.

Take the example of its partnership approach with biggest tech giants such as Microsoft, Oracle, Amazon Web Services, Google Cloud platform, Salesforce, Appian etc. These partnerships provide skill-set, capability and access to the partner's clients. Its partnership with IBM needs a special mention.

Financially the company has performed well. It has achieved a compounded profit growth of 10% and sales growth of 13% over the last five years.

In the last five years, the stock gave returns of 462%. Currently, shares of Persistent Systems are trading at Rs 3,479 per share.

Apart from the above, here's the list of more AI-based stocks to watch out for in India.

Company Share Price
Bosch 14,366
Cyient 1,021
Mphasis 2,950
Zensar Technologies 452
L&T Technology Services 4,327
Info Edge 6,644
Subex 51
Oracle 4,757
Source: Equitymaster

In conclusion

Today, AI is a crucial tool for many businesses and the market for the technology is growing quickly in India.

From online shopping to the data used for scholastic tasks, AI has become an integral part of human life.

Also, many Indian start-ups are expanding and developing AI solutions in education, health, financial services, and other fields.

For the last few years, it has been attracting numerous companies to adapt to the trend, driving investments towards them, due to its increasing demand in the present and future.

Investing in digital technologies can create huge revenue in the coming years.

If you're thinking about buying artificial intelligence stocks, you should look out for companies that are focused on AI businesses in India with excellent technical and business fundamentals, minimal debt, and are available at attractive valuations.

Happy Investing!

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...

Equitymaster requests your view! Post a comment on "5 Indian Companies that are Leading the AI Race". Click here!


More Views on News

India's Big PSU Selloff: Watch Out for these Top Stocks (Views On News)

Oct 15, 2021

The government's plan to divest its stakes in PSUs could spark off a rally in these four stocks.

Modi's Big Move Could Boost these 5 Defence Stocks (Views On News)

Oct 11, 2021

To corporatise the defence sector, the Ministry of Defence (MoD) has dissolved the 250-year-old Ordnance Factory Board (OFB).

5 Exciting 'Unlisted' Companies and How to Play Them (Views On News)

Oct 7, 2021

Here's how you can invest in some of the most exciting start-ups of the decade.

Should You Invest in ICICI Prudential Smallcap Index Fund? (Outside View)

Oct 22, 2021

PersonalFN analyses the features of ICICI Prudential Smallcap Index Fund and explains the potential this fund has to offer to its investors.

How to Know if Your Stock Will Fall (Fast Profits Daily)

Oct 22, 2021

Can you tell when a stock will fall? Yes. Find out in this video...

More Views on News

Most Popular

Differences Between Trading and Investing

A simple to guide to understand the difference between investing and trading

5 Green Energy Stocks to Watch as India Readies for a Revolution (Views On News)

Oct 13, 2021

The excitement around green energy stocks has opened up a huge contrarian opportunity in the traditional energy space.

Could HDFC Bank be a Big EV Winner? The Answer Will Surprise You... (Profit Hunter)

Oct 13, 2021

Why should investors take it for granted that India's Tesla will be one of the major auto stocks?

Tata Group Stocks are on Fire: Which one Should You Buy? (Profit Hunter)

Oct 15, 2021

Tata group stocks are on fire. Find out which one deserves your attention.

Massive Surge in the Shares of Tata Motors Today. Key Factors Favouring the Rally (Views On News)

Oct 13, 2021

Tata Motors zooms 23% after report of TPG investing Rs 75 bn in EV arm.


Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Oct 22, 2021 (Close)