Top 5 Indian companies to lead AI market

Artificial Intelligence (AI) is now connected to our day-to-day activities. Everyone of us is using this in one or the other form.

During the COVID19 pandemic, the use of AI in India has increased by 45%, says the report as compared to other economies. By 2025, AI is capable to add US$90 bn to the Indian economy.

The rapid use of AI is increasing in different fields like finance, healthcare, manufacturing and e-commerce. Business like Zomato and Swiggy, which are using AI are now well-known about the technology to sustain and increase growth.

A report by Accenture says, about 15% or US$957 bn of India’s current gross value will we added by AI in 2035.

With the increasing AI demand, the investors interest has increased in AI stocks.

Below is the list of top 5 Indian companies that are currently leading the AI in Indian stock market.

  1. Coforge
  • Coforge is one of the top 20 Indian software export company which provides end-to-end software solutions and services. NIIT Technologies was incorporated in April 2003 and called as Coforge.
  • It provides AI based digital business assistants, machine learning, multi-currency, multi-lingual, multi-channel involvement, automation of workflow, recognizing image, robotic process automation(RPA) and natural language processing(NLP).
  • In 2021, Coforge has invested in SLK Global Solutions which has deep experience in banking and insurance domains in North America.
  • Over the past 5 years, Coforge has given 1,202% returns.Coforge shares are currently having value of ₹5,136 per share.
  1. Happiest Minds Technologies
  • It is an IT consulting and services company which was formed in 2011. It works on technologies like AI, cloud, internet of things(IoT), blockchain, robotics, virtual reality, etc.
  • The company uses AI for processing language, analysing pictures and videos and new technologies like AR and VR.
  • Also, the company organisations that uses AI robots for time and cost saving purposes.
  • In September 2020, the company entered the stock market and has managed to give 290.8% return. In BSE, it’s shares are trading at ₹1,445 per share.
  • Ashok Soota is the main promoter and executive chairman of the organization.
  1. Saksoft
  • Saksoft is a mid-sized IT organization which provides end-to-end information management solutions to companies around the world.
  • By combining AI and automation, it focuses on increasing productivity, efficiency, customer decisions and service innovations.
  • It supports digital transformation and uses AI to solve vital business problems by using modern technology like IoT, automation and machine learning.
  • Over 5 years, Saksoft has earned profit growth of 20.1% compound annual growth rate(CAGR).
  • Its shares have value of ₹913 on the BSE.
  1. Tata Elxsi
  • The company founded in 1989, is a part of Tata Group and leading provider of design and technology services in industries like automotive, broadcasting, healthcare, communication and transportation.
  • It uses AI in fields like self-driving cars, video analytic solutions and more.

Company has compounded a profit growth of 19% over past 5 years and provided 535% return to investors.

  1. Persistent Systems
  • The company provides a secure and scalable mobile network based on the technology of cutting-edge Wave Relay MANET.
  • It also provides total solution of audio, video and situational awareness to mobile users.
  • It’s machine learning and AI solutions helps companies to improve and scale their operations, assign priority to cases and design platform architecture.
  • In the last 5 years, the company has earned compounded profit growth of 10% and sales growth of 13%.
  • The stock gave returns of 462% while the trading value per share is ₹3,479.

Overall, AI is very significant part for different business and technology market growing in India. During some last few years, many companies are attracted to the new trend of AI and increasing investments.

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