HFCL, Polycab India among 7 companies that are Goldman Sachs’ AI enablers. See full list, ETMarkets.com|

Sep 19, 2026, 12:53:40 PM IST

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​Silicon Surge

India’s stock market may be masking a powerful AI opportunity. While the Nifty has declined 12% in 2026, AI-linked companies have surged as demand rises for the power, data centres and semiconductor infrastructure needed to support the global AI build-out. Here are five power-generation stocks that Goldman Sachs says are AI-enablers.

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Polycab India

Polycab India has a listed market capitalisation of over $13 billion and 6 month average daily traded volume (ADVT) of $39 million, with earnings growth of 18%, capex intensity of 4%, free cash flow at 5% of sales and a 12-month forward PE of 34x.

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3/8

KEI Industries

KEI Industries has a listed market capitalisation of over $5 billion and 6 month average daily traded volume (ADVT) of $26 million, with earnings growth of 22%, capex intensity of 5%, free cash flow at 1% of sales and a 12-month forward PE of 34x.

ETMarkets.com

4/8

Sterlite Technologies

Sterlite Technologies has a listed market capitalisation of over $5 billion and 6 month average daily traded volume (ADVT) of $18 million, with earnings growth of 78%, capex intensity of 11%, free cash flow at 6% of sales and a 12-month forward PE of 37x.

ETMarkets.com

5/8

HFCL

2026 multibagger HFCL has a listed market capitalisation of over $4 billion and a 6-month average daily traded volume (ADVT) of $68 million, with earnings growth of 50%, capex intensity of 10%, free cash flow at 2% of sales and a 12-month forward PE of 30x.

ETMarkets.com

6/8

Blue Star

Blue Star has a listed market capitalisation of over $3 billion and 6 month average daily traded volume (ADVT) of $11 million, with earnings growth of 27%, capex intensity of 2%, free cash flow at 3% of sales and a 12-month forward PE of 48x.

ETMarkets.com

7/8

Craftsman Automation

Craftsman Automation has a listed market capitalisation of over $3 billion and 6 month average daily traded volume (ADVT) of $10 million, with earnings growth of 46%, capex intensity of 13%, free cash flow at 0% of sales and a 12-month forward PE of 37x.

ETMarkets.com

8/8

Syrma SGS Technology

Syrma SGS Technology has a listed market capitalisation of over $3 billion and 6 month average daily traded volume (ADVT) of $22 million, with earnings growth of 38%, capex intensity of 6%, free cash flow at -1% of sales and a 12-month forward PE of 60x.

ETMarkets.com
Read more onGoldman Sachs AI stocks
AI enablers India
Polycab India
HFCL
KEI Industries
Sterlite Technologies
AI infrastructure stocks
Indian AI stocks