10 Best Artificial Intelligence (AI) Stocks in India to Invest in 2024

Artificial Intelligence (AI) is taking a new shape each day. From the introduction of Tesla’s AI-driven car to Chatbots like ChatGpt and Gemini, AI equipment in hospitals, and the IT industry, AI is taking its place in every sector. Undoubtedly, it’s booming, and considering investing in its stocks can be a great decision to lead towards a secure financial future. 

According to a market analysis report available with Grand View Research, between 2023 and 2030, the growth rate of the global AI  market value will be 37.3%. The growth in AI holds significant opportunities for traders and investors. Many of them have even started investing in AI stocks and making profits. 

Do you also want to invest in Artificial intelligence equity? You’ve ventured to the right place. In this blog, we have listed top 10 AI Stocks available in the Indian stock market. Let’s dive deep into this piece to learn about them. But before that, let’s learn what AI stocks are. 

What are AI Stocks?

Many existing information technology companies and new startups have started developing AI projects and listing themselves in Indian marketplaces, such as NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). Multiple companies have also partnered with global players and started experimenting with AI. The securities listed on the stocks associated with raising funds for AI projects are AI stocks. 

It's an entirely new investment category in the stock market, and you can consider investing now and gain a massive benefit in the near future. 

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Benefits of Investing in AI Stocks in India

1. High Earning Potential 

AI can revolutionise each sector, from education to health, marketing to lifestyle. Considering present devolvement and innovation, AI is predicted to boom in the upcoming years. Investing in it, has higher earning potential. 

2. Portfolio Diversification

Investing in AI securities also offers you opportunities to diversify your investment portfolio. Reducing the risk and leading towards building a financially secure trading environment. 

3. Opportunity to be part of the Revolution 

By purchasing stock, you will not only have the opportunity to grow and diversify your portfolio but also be part of AI's journey from the invention of AI-driven SaaS to robots. 

List of 10 Best AI Stocks in India 

Here is the list of 10 best AI stocks in India that you can consider to invest. The list has been prepared by analysing 5 major parameters of the stock market i.e., 

1. Face value (price at which you purchase the shares of a particular company)
2. Book value(difference between asset and liabilities)
3. Market capital (the total value of a company's outstanding shares of stock)
4. P/E ratio ( called price–earnings ratio, the company’s current share price to the company's earnings per share)
5. 52 weeks high/low. 

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1. Persistent system

Headquartered in Pune, Persistent System is an Indian multinational company that provides digital engineering and enterprise modernisation services. The company offers AI-enabled services, making it a top company to initiate investment in AI. 

2. Tata Elxsi

Tata Elxsi is among the top 5 AI stocks in India to invest in 2024. Part of the Tata group, Tata Elxsi is a design specialist focused on software and digital engineering services. The company serves various industries, including automotive, healthcare, broadcast, and communication. 

3. Oracle 

Oracle Financial Services Software Limited (OFSSL) is a financial technology solutions company. It provides AI-enabled services that help customers enhance financial services, foster vibrant economies, build resilient institutions, and safeguard them against economic crime.  

4. Zensar

Zensar Technologies Limited is a subsidiary of RPG Group. It is a publicly traded software and services company in India. Zensar provides AI/ML-driven smart advisor services for AI-led business transformation. With a proven track record in AI and digital transformation, Zensar is one of the excellent companies to invest in 2024. 

5. Affle

Another company to consider investing in AI is Affle. Affle is a remarkable company that provides mobile advertisement services that help marketers effectively identify, engage, acquire, and drive transactions with their potential and existing customers.  

6. Kelton

Kelton is a technology consulting and IT services company that provides AI and ML solutions, including predictive Analytics, generative AI, and utilitarian AI services. Kelton is a leader in the field of AI, making it a great company choice for investment. 

7. LTIMindtree

LTIMindtree Limited is a global information technology and consulting company originating in India. The company's stocks are among the best AI stocks. The company provides an applied AI platform for data annotations/review, AutoML, and ML predictions at scale, the demand for which is rapidly increasing. This platform offers you the opportunity to grow with the company and its market. 

8. Infosys 

Headquartered in Bengaluru, Infosys is an Indian multinational company that provides business consulting, information technology and outsourcing services. Infosys is also leveraging the power of AI and machine learning. The company enabled with AI can grow exponentially in the near future. Investing in Infosys AI stocks can be an excellent decision for growth opportunities. 

9. TECHM 

Tech Mahindra is also an Indian multinational information technology services and consulting company. The company is adapting the AI approach and successfully enabling enterprises to re-design, re-imagine, and re-invent themselves and deliver enhanced customer experiences. Tech Mahindra stocks are among the best stocks for AI. 

10.Wipro Ltd 

Wipro Private Limited is a global IT and business processing company. The company infuses AI functionality into every tool, platform, and solution to enhance their efficiency. The company's stocks are considered among the best AI stocks in India for long-term investment.   

Factors to Consider Before Selecting AI Stocks  

1. Your Risk Bearing Capacity 

Investing in AI stocks is an excellent opportunity to earn high profits, but the investment also involves high risks. Therefore, one must consider one's risk-bearing capacity. 

2. Finances of the company 

Multiple companies are emerging as AI companies. Hence, you must consider the company's finances. Check the company's balance sheet, cash flow statement,etc. AI research demands enormous investments, so the company must be financially strong or backed by funding. 

3. Different Niches of AI

Machine learning and deep learning are subsets of AI. You can consider investing in companies dedicated to these specific sectors of AI. Additionally, you can consider companies that make hardware for AI, like Graphics Processing Units, Tensor Processing Units, and AI-enhanced chips. Furthermore, Robotics companies and the Internet of Things are some of the best options for investing in AI stocks. 

4. Knowledge and Resources of the company 

AI is a high-tech field. Consider the company's knowledge base regarding AI and its resources, such as data, human support, etc., so that it will lead to success. Moreover, you will also understand how visionary the company is regarding its AI projects. 

5. Your Past Investment 

If you've already invested in some funds in several AI companies, Don't invest more in the same sector. Diversify your fund. Diversification allows you to make high profits with low risk. 

Risks Associated with AI Stocks

1. Global Competition 

Artificial intelligence companies compete globally, from startups to giants in the field. Hence, the market risks can be high. 

2. Success Rate 

The success rate of developing AI-based equipment can be low. As AI evolves daily, something new and more powerful comes into the market every time.

3. Volatility 

The AI stocks have high market volatility. Predicating the loss and benefits of AI stocks is difficult. 

Tips to Invest in AI Stocks Safely 

• Consider long-term investment if you're looking to invest in AI stocks.
• Keep studying the AI industry, including market trends, new technological innovations, and regulatory changes. 
• Learn about the company's AI project and marketing strategy to generate profit. 
• Consider your risk tolerance capacity before investing in AI stocks. 
• Must review the company's financial status, R&D plan, and growth potential. 

How can I invest in AI stock in India?

You can invest in AI stocks online using the trading app- Gopocket. Gopocket is the digital face of one of the most reputed brokerage companies, Skyrocket. To invest in AI stocks with GoPocket, follow these steps: 

Step 1: Visit Gopocket's web page or install its mobile application and sign up using your mobile number and OTP (One-Time Password). 

Step 2: Open your demat account with GoPocket. You'll need a PAN card, bank account, income tax certificate, photograph, and signature to open your Demat account. 

Step 3: Explore different stocks and find the AI stocks. Consider the AI stock price, past growth, etc, to select top AI stocks to invest in. You can also consider any of the stocks mentioned in the above list of best AI stocks in India. 

Step 4: Purchase the stock after considering each aspect, such as growth opportunity, risk tolerance capacity, and price. 

Now, after purchasing stocks in an AI company, the stocks will reflect in your demat account. Leave the stock  for the long term to grow and offer you potential profits. However, between them, stay updated with the changes coming in the AI industry. 

Conclusion 

Investing in AI stocks is easy. You can invest in any of the above-mentioned 10 AI stocks that are best in India for the long term. However, before investing, you must check market conditions, AI influence in different sectors, AI regulatory rules, etc. Also, consider your financial status, past investments, and stock market understanding before investing. 

Disclaimer: Gopocket doesn’t promote any of the AI stocks. Investors can check the details of each AI stock on their own and consider investing according to their market understanding, risk-bearing appetite, and other crucial financial factors. 

FAQs Related to AI Stocks in India

1. Should I invest in AI now?

Definitely, AI is growing. Investing now in AI can benefit you greatly in the upcoming years. However, before investing in AI stocks, one must study them carefully. 

2. Is AI the Next Big investment?

Yes, according to an estimation from leading financial company Goldman Sachs, the global investment in AI could reach $200 billion by 2025. 

3. Is AI stock trading profitable?

As per estimation, AI stock trading can be profitable. However, it also includes high risk. So, before investing, you must research AI companies, projects, and the companies' marketing strategies for AI.