Top 3 Indian AI Stocks To Watch In September 2026

AI keeps making headlines for safety scares after Google’s Gemini reportedly hacked real companies during a security test, yet the long term build out of chips, cloud and software powering these systems continues. That gap between fear and fundamentals can leave some Indian AI focused stocks mispriced. This article walks through three potentially undervalued AI opportunities from our screener that could deserve a closer look.

The three AI focused stocks below are just a sample, and the full screen surfaced 0 more listed businesses with similarly detailed stories that are not covered in this article. To identify potential opportunities tailor made for your own thesis, head straight into the Undervalued Artificial Intelligence/ AI Stocks screener.

Tanla Platforms (NSEI:TANLA)

Tanla Platforms sits at the intersection of telecom-grade messaging and the AI shift in customer conversations, using tools like Surbo and the Wisely Platform to bring large language model style automation into everyday enterprise interactions.

Tanla Platforms runs a communications platform as a service business, using AI tools like Surbo conversation AI and Wisely’s automated messaging to power customer interactions. It generates about ₹46.0b from its CPaaS provider segment and has a market value near ₹64.9b.

"Frequent pricing changes from Meta and withdrawal of certain incentives can compress unit economics and limit the uplift to revenue and earnings if enterprises resist higher costs or slow adoption."

This raises a key question: what happens to Tanla Platforms’ earnings profile if one unseen pressure on AI messaging demand and pricing moves in an unfavorable direction?

If that pressure on unit economics is only one piece of the puzzle, the full narrative for Tanla Platforms shows how Tanla Platforms could still see AI demand reshape its earnings mix.

Newgen Software Technologies (NSEI:NEWGEN)

Newgen Software Technologies builds workflow automation and document management tools that plug AI into real processes. Its NewgenONE platform uses agentic AI and large language models to power enterprise content and communications. The business earned about ₹16.1b from software and programming and carries a market value near ₹70.3b.

Newgen Software Technologies gives the AI theme a very practical angle, turning large language models into tools for document-heavy tasks and customer interactions across banks, insurers, and government agencies.

"The ongoing acceleration in global digital transformation, including rising demand for cloud adoption, automation, and artificial intelligence, expands Newgen's addressable market; management highlighted strong client interest in AI-led workflow solutions and recent expansion of AI-driven features, which is expected to drive recurring subscription revenue and long-term revenue growth."

What really matters now is how a single shift in deal momentum could ripple through both margins and the AI-led growth story investors are watching.

That swing in deal flow is exactly what the full narrative for Newgen Software Technologies unpacks, explaining how Newgen Software Technologies could see AI momentum and contract timing decoupling from headline sentiment.

CG-VAK Software and Exports (BSE:531489)

CG-VAK Software and Exports runs global software services from Coimbatore, covering custom development, web and mobile builds, testing and digital solutions, while also offering AI and machine learning work such as hyper data curation. It generated about ₹739 million from software services and has a market cap near ₹745 million.

CG-VAK Software and Exports links directly into the AI theme through its AI and machine learning projects that build intelligent applications and data pipelines for clients. The stock trades on a P/E of 8.6x against higher software peer multiples, which makes future AI driven margin trends particularly sensitive to how one unresolved growth lever behaves.

That unresolved lever is exactly what the analysis report for CG-VAK Software and Exports lays out. It shows how CG-VAK Software and Exports’ AI work could re-rate margins.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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