Sterlite Technologies soars 804% as AI stocks buck 13% slide
Business
While the Indian stock market took a 13% dip this year, companies tied to artificial intelligence (AI) are having a moment.
Firms building AI infrastructure (like optical fiber makers and data center developers) are seeing big gains.
Sterlite Technologies stands out, with its stock jumping an incredible 804% in 2026.
India's AI stocks now 13.6% foreign-held
Foreign investment in India's top AI-linked stocks has climbed to 13.6%, up from 10.3% last year, as global interest grows.
Even though India doesn't have major chip manufacturers like TSMC, companies supporting data centers and fiber networks are filling the gap.
The surge in AI is also boosting demand for electricity, giving the power and energy sectors a welcome lift.