{
  "id": 10569704,
  "title": "Goldman Sachs identifies 42 Indian stocks riding AI build-out",
  "url": "https://urgent.news/2026/09/29/goldman-sachs-identifies-42-indian-stocks-riding-ai-build-out",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-29T00:30:41.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/goldman-sachs-identifies-42-indian-stocks-riding-ai-build-out/articleshow/134553363.cms"
  },
  "original_language": "en",
  "account": "Mumbai: Goldman Sachs has identified 42 Indian stocks that are benefiting from the AI build-out, despite the absence of a meaningful AI trade in the Indian market. This absence has often been cited as a reason for the limited foreign investor interest in the market, especially as AI-linked stocks have driven returns in other major markets such as the US, Taiwan, and South Korea.\n\nHowever, beneath the benchmark indices, a significant number of Indian companies are emerging as winners of the AI infrastructure build-out. Goldman Sachs has identified these 42 AI Enablers, which span industries such as power, data centers, and semiconductors.\n\nWhile the Nifty has declined by 12% in 2026 till mid-September, this group of AI Enablers has surged by approximately 60%. Many of these companies are small- and mid-cap firms in the capital goods, utilities, and technology hardware sectors, making their presence less visible in the large-cap-heavy benchmark indices.\n\nHowever, it is important to note that valuations for these AI Enablers are not cheap. Goldman Sachs believes these stocks trade at around 36 times forward earnings, which is an 85% premium to the MSCI India index and close to the upper end of their five-year valuation range of 28-39 times. This premium is largely attributed to the stronger earnings growth of these AI Enablers.\n\nOut of the 42 AI Enablers identified by Goldman Sachs, ET has shortlisted 14 companies based on a minimum capex intensity of 20%.",
  "summary": "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. This trend signals a…",
  "key_points": [
    "Goldman Sachs identifies 42 Indian stocks benefiting from AI build-out.",
    "AI Enablers surge 60% while Nifty declines 12% in 2026.",
    "AI Enablers trade at 36x forward earnings, 85% premium to MSCI India index."
  ],
  "editors_take": "Goldman Sachs' identification of 42 Indian AI Enablers reveals a subset of the market thriving amid the AI build-out, contradicting the limited foreign investor interest narrative and highlighting an overlooked growth area.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}