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As we are stepping into the third quarter of this financial year, we are witnessing rapid advancements in artificial intelligence (AI). July 2024 is particularly an interesting period for AI investments as various companies are emerging as leaders in this field.
It is important to understand why AI stock is the best choice of investment. Many investors are also investing in a lot of cheap AI stocks as well. In this article, we will discuss the 5 best AI stocks to buy in July 2024 that show potential and robust financial health. Whether you're an experienced investor or just a newcomer who is eager to explore the financial trends in AI, this list will give the much-needed insights.
Market Cap: Rs 1,01, 776 Cr
Industry P/E: 45.69
P/E Ratio: 40.85
ROE: 15.18%
Dividend Yield: 1.09%
Bosch Limited is one of the leading providers of automotive components and industrial products in India. The company operates across various segments. And now, Bosch Limited has entered the area of Artificial Intelligence.With a strong focus on research and development, the company continuously works towards introducing cutting-edge technologies, which enhance the efficiency, safety, and sustainability.
Market Cap: Rs 90,379 Cr
Industry P/E: 31.39
P/E Ratio: 40.72
ROE: 28.24%
Dividend Yield: 2.30%
Oracle Financial Services Software Limited (OFSS) is a prominent global provider of IT solutions and services. OFSS invests in research and development to stay ahead in this increasingly changing financial technology landscape.
Market Cap: Rs 70,600 Cr
Industry P/E: 31.39
P/E Ratio: 64.57
ROE: 22.06%
Dividend Yield: 0.39%
Persistent Systems is a global technology services company that specializes in software product development and digital engineering. Persistent Systems provides a broad range of services including software development, cloud computing, big data analytics, and artificial intelligence. The company works with enterprises and software product companies to help them accelerate their digital transformation journeys by leveraging cutting-edge technologies and innovative solutions. With a workforce of skilled professionals and a global presence, Persistent Systems is committed to driving technological advancements and providing exceptional value to its clients.
Market Cap: Rs 54,196 Cr
Industry P/E: 31.39
P/E Ratio: 41.57
ROE: 24.47%
Dividend Yield: 0.98%
L&T Technology Services (LTTS) is one of the frontrunners in the field of global pure-play engineering services company. It offers many innovative solutions in the area of digital engineering and industrial technologies. It is a subsidiary of Larsen & Toubro Limited, established in 2012. The company has a global presence, with delivery centers and offices across the Americas, Europe, and Asia. This allows the company to serve a diverse clientele effectively.
Market Cap: Rs 43,913 Cr
Industry P/E: 35.11
P/E Ratio: 55.43
ROE: 31.62%
Dividend Yield: 0.99%
Tata Elxsi specializes in design and engineering solutions across industries like automotive, media and entertainment, healthcare, and telecommunications. Tata Elxsi combines artificial intelligence, IoT, and augmented reality with robust design thinking to deliver transformative solutions. The company's services span from product design and development to digital transformation and systems integration, ensuring comprehensive support for its clients.
