Indian stock markets have produced significant winners from the artificial intelligence boom despite broader market challenges. According to reports from NDTV Profit, Sterlite Tech has moved around 1,100% in recent months, demonstrating similar performance to Korea's SK Hynix which has delivered 1,250% gains over two years. The analysis highlights that while Indian markets may not have direct semiconductor linkage stocks like SK Hynix or TSML, there are proxy plays in AI and allied capex-related stocks that have generated substantial returns. As per NDTV Profit, these stocks include Sterlite Tech, HFCL, Cummins, MTAR Tech, and Hitachi Energy, all of which have been strong movers in very short periods of time.
As reported by NDTV Profit, the Indian market context differs significantly from international counterparts. Sterlite Tech currently trades at ₹680 after a breakout in February 2026, while SK Hynix has a 55% weightage on the Kospi with the stock delivering 100% returns in a year when the market has similarly performed. The Indian market remains at a 15% negative level and struggles with momentum, contrasting sharply with international AI stock performance. According to the analysis, Sterlite Tech's weightage in any indices is negligible compared to SK Hynix's significant market presence, yet the performance patterns remain remarkably similar. Recent credit market developments show that four of the five hyperscalers have underperformed the broader market on a spread basis year-to-date, highlighting the mixed performance across different market segments.
According to the latest analysis, HFCL has emerged as the new opportunity after transforming from a pariah stock that fell to ₹10 levels in 2004 to becoming a potential winner. The report notes that Cummins, MTAR Tech, and Hitachi Energy are among other significant performers in the AI-related space, with all stocks showing strong momentum in short periods. As per NDTV Profit, HFCL's decent volumes throughout its sojourn at lower levels testify to the fact that it has always been a 'well-tipped' stock, with people waiting forever for it to go up. These companies represent proxy plays in AI infrastructure and capex sectors rather than direct semiconductor manufacturers.
As reported by NDTV Profit, the analysis emphasizes that hard work and research are essential in identifying AI-related opportunities in Indian markets. The report warns against FOMO (Fear of Missing Out) behavior that can be destructive in volatile markets, suggesting trend-following tools as a more disciplined approach. The analysis notes that while Indian markets may have a longer runway compared to Korea, reaction pullbacks in AI stocks will likely be bought into due to the sustained narrative support. The report emphasizes that the right way to play such runaway stocks is to use trend-following tools to remain long and exit when signals suggest, then re-enter when signals turn positive again, avoiding FOMO mode while participating in 'hot' items. Recent credit market developments show that investor caution is warranted given the execution risk inherent in such a rapid buildout, with capital intensity not yet peaked and off-balance sheet leverage rising across the sector.
