Exposed suppliers
While the benchmark indices rose, India’s own AI-linked stocks fell with global markets. On 6 November, shares of CG Power, MTAR Technologies, Hitachi Energy India and cloud providers such as E2E Networks dropped by up to 8%. These companies belong to a group of 42 that Goldman Sachs identified in September as India’s “AI Enablers”, worth $670 billion. The group rose about 58% between January and mid-September, led by data centre hardware and power equipment makers, and traded at an 85% premium to the market.
