'No Indian Company Is Really Into AI,' Warns Ace Investor Vijay Kedia, But Bets On This Pocket
Vijay Kedia noted that no presentation or pitch in companies is without playing up the AI opportunity.
Talking about how most companies fit the piece of AI into their business whether it fits or not, is noted by this ace-investor as a trend. Vijay Kedia noted that no presentation or pitch in companies is without playing up the AI opportunity. At this juncture, this experts calls out the real utalisation and practical function of AI in India companies.
"I do not think any Indian company is really into AI. Businesses that actually use AI in operations will benefit," he said. The focus falls on not just incorporation of technology into business but success lies in the integration and utilisation.
Zooming out into the larger sectors within technology, data centre takes the spotlight. Kedia, an ace investor known for picking small-sized companies with large aspirations and big market opportunities bets on this sector. Data centre space just getting started in India, these platform companies have a bright future, he said.
Zooming out on to the latest additions in this ace investor's portfolio, the shares of Eimco Elecon Ltd., were trading with gains of more than 5% on Wednesday. These gains had come after trade after a Vijay Kedia-backed firm acquired stake in the company.
Over a year-to-date period, this stock has remained largely flat while correcting more than 28% in last 12 months. Vijay Kedia had acquired nearly 1% stake in the company through an open market transaction.
According to exchange data, Kedia Securities Ltd. purchased 57,441 equity shares of Eimco Elecon at an average price of Rs 1,906 per share. The value of the total deal was around Rs 10 crore.
In the past, Kedia has made fortunes with his stake in companies like Atul Auto, Punjab Tractors, Aegis Logistics and ACC.
