Themes / Data Centre & AI Infrastructure
Data Centre & AI Infrastructure
Hyperscaler buildout in India — picks and shovels
capexglobal-demandtech
Theme scorecard
Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.
Theme
25
Stretched
Quality
27
Valuation
7
Momentum
51
Positive MoS
0%
P/E 93.8 · ROCE 25%
Thesis
Meta, Microsoft, Google, and AWS have committed >USD 20 bn to Indian data centre capacity through 2030, aided by localisation rules from the Digital Personal Data Protection Act. Direct listed DC plays are few (Anant Raj, CtrlS — unlisted). Better exposure comes from the supplier layer: servers / storage (Netweb, Cyient DLM), cooling + power infra, and EMS anchors that qualify for the enclosures.
- ▸USD 20 bn+ committed DC capex through 2030
- ▸DPDP Act pushes data localisation — regulatory tailwind
- ▸Pure-play DC owners mostly unlisted — invest via suppliers
- ▸Cooling + power remains the pick-and-shovel sweet spot
Top picks · ranked by U-Score within this cohort
#1NETWEBSmall
Netweb Technologies India Limited
IT
FAIR VALUE
Server + HPC systems; recently listed, direct AI-compute supplier
MoS: -234.6%Piotroski: 8/9ROCE: 38%P/E: 118.0D/E: 0.39
53
U-Score
₹5193.00
Open →
#2KAYNESSmall
Kaynes Technology India Limited
Industrials
WATCHLIST
High-end EMS — cooling, enclosures, power electronics
MoS: -76.2%Piotroski: 6/9ROCE: 13%P/E: 69.6D/E: 0.19
34
U-Score
₹3598.00
Open →