Goldman Sachs Names 5 Indian Power Stocks as AI-Enablers Amid Soaring Demand

India's stock market may be masking a powerful AI opportunity, according to Goldman Sachs. While the Nifty has declined 12% in 2026, AI-linked companies have surged as demand rises for the power, data centers, and semiconductor infrastructure needed to support the global AI build-out.

The investment bank has identified five power-generation stocks that it says are AI enablers. These include Adani Green Energy, Tata Power, NTPC Green Energy, ACME Solar Holdings, and Clean Max Enviro Energy Solutions.

Goldman Sachs notes that these companies have significant earnings growth, with some reaching as high as 159% in the case of Clean Max Enviro Energy Solutions. However, they also have high capex intensity, with some exceeding 600%, indicating a substantial investment in infrastructure to support their operations.