Goldman Sachs names 5 power generation stocks that are AI enablers amid soaring demand
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Future forward
India’s stock market may be masking a powerful AI opportunity. While the Nifty has declined 12% in 2026, AI-linked companies have surged as demand rises for the power, data centres and semiconductor infrastructure needed to support the global AI build-out. Here are five power-generation stocks that Goldman Sachs says are AI-enablers.
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Adani Green Energy
Adani Green Energy has a listed market capitalisation of over $22 billion and 6 month average daily traded volume (ADVT) of $52 million, with earnings growth of 70%, capex intensity of 235%, free cash flow at -109% of sales and a 12-month forward PE of 60x.
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Tata Power
Tata Power has a listed market capitalisation of about $12 billion and 6 month ADTV of $28 million, while earnings growth stands at 12%, capex intensity at 32%, free cash flow at -5% of sales and 12-month forward PE at 23x.
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NTPC Green Energy
NTPC Green Energy has a listed market capitalisation of $8 billion and 6M ADTV of $9 million, with earnings growth of 106%, capex intensity of 613%, free cash flow at -250% of sales and a 12-month forward PE of 37x.
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ACME Solar Holdings
ACME Solar Holdings has a listed market capitalization of $3 billion and 6M ADTV of $9 million, with earnings growth of 86%, capex intensity of 487%, free cash flow at -197% of sales and a 12-month forward PE of 22x.
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Clean Max Enviro Energy Solutions
Clean Max Enviro Energy Solutions has a listed market capitalisation of $2 billion and 6M ADTV of $4 million, with earnings growth of 159%, capex intensity of 242%, free cash flow at -96% of sales and a 12-month forward PE of 69x.Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.