Shares of Concord Biotech rose over 6% to their day’s high of Rs 1,350 on the BSE on Wednesday after the company announced that it had received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Tofacitinib Tablets in 5 mg and 10 mg strengths.

According to the company, the approval covers Tofacitinib Tablets indicated for the treatment of adult patients with moderately to severely active rheumatoid arthritis (RA), active psoriatic arthritis (PsA), active ankylosing spondylitis (AS), moderately to severely active ulcerative colitis (UC), active PsA, and active polyarticular course juvenile idiopathic arthritis (pcJIA).

The regulatory approval has been granted by the U.S. Food and Drug Administration, the company said in its filing. Concord Biotech stated that the approval aligns with its growth strategy and is expected to strengthen its position in the U.S. market. The company added that the clearance allows it to expand its product portfolio and pursue opportunities in the U.S. and international markets.

According to market estimates cited by the company, the U.S. market opportunity for Tofacitinib Tablets across the 5 mg and 10 mg strengths is approximately $500 million. The approval pertains specifically to the company’s ANDA for Tofacitinib Tablets in the two approved dosage strengths. The company said the development supports its long-term growth plans and enhances its ability to participate in the relevant therapeutic segments in the United States.

The company noted that the approval for Tofacitinib Tablets, 5 mg and 10 mg, is expected to strengthen its presence in the U.S. market while broadening its range of offerings. The approval also provides access to a market that the company estimates at approximately $500 million for the two strengths combined.

Concord Q4 snapshot

The R&D-focused biopharmaceutical company reported a 36.8% year-on-year decline in fourth-quarter net profit at Rs 88.8 crore, compared with Rs 140.4 crore in the corresponding period last year, as lower revenue and margin compression weighed on earnings.
Revenue from operations fell 24.1% to Rs 326.1 crore from Rs 429.9 crore a year earlier. EBITDA for the quarter declined 37.8% year-on-year to Rs 118.5 crore, while the EBITDA margin contracted to 36.4% from 44.3% in the year-ago quarter.
Concord share price is down 36% in the last 1 year. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Investors seeking exposure to the artificial intelligence surge in 2026 are focusing on companies leading advancements in chips, cloud computing, software and data infrastructure, with Nvidia, Microsoft and Alphabet frequently cited among the strongest positioned players as capital spending on AI remains robust.

The AI sector continues to drive significant market gains, with infrastructure buildouts by hyperscalers fueling demand for semiconductors, enterprise tools and applications. While volatility persists amid high valuations and execution risks, analysts highlight a core group of stocks benefiting from secular tailwinds in data centers, generative AI and automation.

1. Nvidia (NVDA) Nvidia dominates AI accelerators with an estimated 80-90% market share in high-end GPUs. Its Blackwell platform and upcoming architectures underpin massive data center demand, with revenue growth exceeding 60% in recent periods. The company’s CUDA ecosystem creates strong competitive moats, making it a foundational pick for AI infrastructure exposure.

2. Microsoft (MSFT) Microsoft integrates AI across Azure, Copilot tools and Office suite, partnering closely with OpenAI. Cloud revenue acceleration and enterprise adoption position it for sustained growth, balancing high-margin software with infrastructure investments.

3. Alphabet (GOOGL) Google’s parent leverages Gemini models, custom TPUs and cloud services while maintaining advertising dominance. AI enhancements across search and YouTube, combined with growing cloud backlog, support optimistic outlooks for 2026 performance.

4. Broadcom (AVGO) Broadcom excels in custom AI accelerators and networking chips, supplying major hyperscalers. Strong order momentum and diversification beyond consumer markets have driven outperformance, with analysts noting its role in AI hardware ecosystems.

5. Meta Platforms (META) Meta invests heavily in AI for content recommendation, advertising efficiency and metaverse initiatives. Robust user growth and high-margin ad revenue provide funding for infrastructure, with efficiency gains from AI already visible in results.

6. Advanced Micro Devices (AMD) AMD challenges Nvidia in GPUs and leads in certain CPU segments with EPYC processors. Its Instinct accelerators gain traction as companies diversify suppliers, offering investors a growth story at relatively more accessible valuations.

7. Amazon (AMZN) Amazon Web Services leads cloud computing with extensive AI services and custom Trainium/Inferentia chips. E-commerce scale and advertising further bolster the company’s diversified AI exposure.

8. Taiwan Semiconductor Manufacturing (TSM) As the world’s leading chip foundry, TSMC manufactures advanced processors for Nvidia, Apple and others. Its process technology leadership remains critical to the AI supply chain.

9. Palantir Technologies (PLTR) Palantir delivers AI-powered data analytics platforms to governments and enterprises. Commercial momentum and platform adoption have accelerated, positioning it as a software beneficiary of AI deployment.

10. Micron Technology (MU) Micron provides high-bandwidth memory essential for AI training and inference. Strong demand for its DRAM and NAND products has driven exceptional performance, with analysts projecting continued growth as AI workloads expand.

Market Context and Investment Considerations

AI-related capital expenditures by major tech firms are projected to remain elevated in 2026, supporting the entire ecosystem from chips to applications. Morningstar and other analysts identified several of these names as undervalued or fairly priced with strong moats as of early June.

Risks include potential slowdowns in AI hype cycles, geopolitical tensions affecting supply chains, regulatory scrutiny and high valuations leaving limited room for error. Diversification across hardware, software and services mitigates single-company exposure.

Analysts emphasize long-term horizons. Companies demonstrating clear paths to monetization, strong balance sheets and technological leadership are best positioned. Quarterly results, product roadmaps and hyperscaler spending updates will provide key signals throughout the year.

Broader AI Investment Landscape

Beyond the top 10, names like Accenture, Arista Networks, Adobe and Dell also feature in many lists for their roles in implementation, networking and services. The sector’s expansion into edge AI, autonomous systems and industry-specific applications creates additional opportunities.

Investors should conduct thorough due diligence, considering individual risk tolerance and portfolio allocation. Many experts recommend a balanced approach rather than concentrating solely in a few high-profile names. Professional financial advice is essential, as past performance does not guarantee future results.

The AI transformation is reshaping industries from healthcare and finance to manufacturing and entertainment. Stocks with deep technical expertise and scalable business models are viewed as long-term winners in this shift. As 2026 unfolds, execution on massive infrastructure investments and innovation pipelines will differentiate leaders.

Market participants remain optimistic about AI’s productivity benefits, though debates continue over near-term returns on investment. The selected companies represent a cross-section of the value chain, offering investors varied ways to participate in what many consider a multi-decade opportunity.

Careful monitoring of macroeconomic conditions, interest rates and competitive dynamics will be crucial. With AI adoption accelerating, these stocks are expected to remain in focus for growth-oriented portfolios throughout 2026 and beyond.

Available for over a year

“I do want to make money, but I want to make money in the right way, ethically. But more importantly, I want use this money to be able to give back.”

Charles Gitonga speaks to entrepreneur and businessman Mohammed Dewji about becoming one of Africa’s youngest billionaires and how he wants to use his wealth.

Mohammed Dewji is a Tanzanian businessman, entrepreneur and philanthropist who has primarily accumulated his wealth from his family business, an East African conglomerate founded by his grandparents and expanded by his father in the 1970s. It deals with textile manufacturing, flour milling, beverages and edible oils.

About twenty-five years ago, Africa had no dollar billionaires. Today, there are still only 23, not a huge number for a continent rich in mineral wealth and an abundance of relatively cheap labour. Their combined wealth has grown to more than 100 billion US dollars.

Dewji signed the Giving Pledge in 2016 promising to donate at least half his fortune to philanthropic causes. He explains why he believes billionaires have a responsibility to give back.

Thank you to the Focus on Africa team for its help in making this programme.

The Interview brings you conversations with people shaping our world, from all over the world. The best interviews from the BBC, including episodes with Sierra Leone’s first lady Fatima Bio, former Sudanese leader Aisha Musa, and SungAh Lee from the International Organisation for Migration. You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts.

Presenter: Charles Gitonga
Producer: Cordelia Hemming
Editor: Justine Lang

Get in touch with us on email TheInterview@bbc.co.uk and use the hashtag #TheInterviewBBC on social media.

(Image: Mohammed Dewji. Credit: Getty)

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