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

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.

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.

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.

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.

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.

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.

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.

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.

Disclaimer: This article has been written by Veer Shamra, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here