AI, short for Artificial Intelligence, refers to the capability of machines and computer systems to execute tasks that typically require human intelligence.
The AI sector in India is witnessing swift expansion, with projections suggesting that India’s AI market could attain $17 billion by 2027, growing at a compounded annual growth rate (CAGR) of 25-35%.
The Indian government is making substantial investments in fostering AI capabilities and expertise, establishing AI centers of excellence in prestigious educational institutions. Major IT firms are also making significant investments in AI technology to ensure the forefront of this transformative technology.
Here are three AI stocks under Rs 100
Subex Ltd
Subex Limited develops software products and provides software consulting services. The Company’s products primarily focus on providing software solutions for clients in the telecommunications sector.
Subex Ltd is actively developing AI and machine learning (ML) products, focusing primarily on the telecommunications industry.
The company offers software solutions for revenue assurance, fraud detection, and network analytics. Recently, Subex has expanded into emerging technologies like Internet of Things (IoT) security and artificial intelligence, introducing platforms such as HyperSense for advanced analytics.
Subex launched HyperSense, its flagship AI platform, in April 2021. Designed as a no-code solution, HyperSense aims to democratize AI and ML for communication service providers (CSPs) and other enterprises.
In March 2024, Subex secured a $2.2 million contract with a leading telecom operator in Southeast Asia to deploy AI and ML technologies for early risk identification and to automate complex fraud detection processes.”
Subex shares have declined 20 percent in the last six months and declined 5 percent on a year-to-date basis.
The company’s revenue has increased by 11 percent yearly, from Rs 279 crore in FY22-23 to Rs 310 crore in FY23-24. During the same timeframe, Net losses have increased from a loss of Rs 51 crore to Rs 192 crore.
On Friday, Subex shares closed at Rs 33.2 per share, up 1.50% from the previous close price. The company has a market capitalization of Rs 1,872 crores.
OnMobile Global Ltd
OnMobile Global Ltd is engaged in providing value-added services such as Ringback Tones, Digital Content Store and Infotainment.
OnMobile provides a diverse range of products, including Videos, Tones, Games, and Contests. The company has a potential customer base of over 1.68 billion mobile users and more than 100 million active subscribers across various regions.
In August 2021, OnMobile acquired a 100% stake in rob0, a leader in AI-powered visual retention. rob0’s innovative Vision AI technology, currently patent-pending, collects, analyzes, and offers insights to understand user behavior, enhance gameplay, and improve player retention.
OnMobile Global (ONMO) has developed a mobile cloud gaming platform that combines AI and cloud streaming technologies to elevate the gaming experience. This platform is focused on three major trends in mobile gaming: eSports, Social Gaming, and Short Form Gaming.
The company’s revenue has slightly declined by 2.2 percent yearly, from Rs 525 crore in FY22-23 to Rs 513 crore in FY23-24. During the same timeframe, Net profit has increased by 114% from Rs 7 crore to Rs 15 crore.
OnMobile Global Ltd shares have declined 25 percent in the last six months and declined 5 percent in the last 12 months.
On Friday, OnMobile Global Ltd shares closed at Rs 81.9 per share, down 0.72 % from the previous close price. The company has a market capitalization of Rs 871 crores.
Vedavaag Systems Limited
Vedavaag Systems Limited is an India-based company, which is engaged in information technology (IT) sales and services, such as governance and citizen services, banking, finance, and insurance services.
The company offers a range of solutions including artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and cloud-based services across various sectors such as fintech, Ed-tech, healthcare, and logistics. Its subsidiaries include VSL Data Systems Private Limited and Vedavaag Edutech Private Limited.
Vedavaag Systems Limited has developed the V-DAMS (Driver Alert Management System), an AI and ML-based solution designed to reduce road accidents. This system monitors driver behavior and provides real-time alerts to enhance safety.
In addition, the company has created a cloud-enabled software solution that leverages AI and ML to monitor patient activities. This tool aims to improve healthcare outcomes by tracking patient behavior and offering actionable insights.
The company’s revenue saw a slight increase of 3% year-over-year, rising from Rs 84.14 crore in FY22-23 to Rs 86.70 crore in FY23-24. However, net profit decreased by 1.2%, from Rs 7.93 crore to Rs 7.89 crore during the same period.
Vedavaag Systems Limited shares have declined 7 percent in the last six months and increased 20 percent in the last 12 months.
On Friday, Vedavaag Systems Limited shares closed at Rs 62.8 per share, down 1.08% from the previous close price. The company has a market capitalization of Rs 144 crores.
Written by Omkar Chitnis
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