New Delhi, July 17 -- After a strong post-COVID rally, shares of Affle India peaked around Rs.1,450. Then came the tech selloff, and Affle took a hit. It has since rebounded, and now trades around Rs.1,970. That's not too bad, considering how far many mid cap tech stocks have fallen.

But here's the kicker. It still trades at a price to earnings (PE) ratio of 73. So, what are investors seeing in the company?

Well, it's not just the advertising story. There is an artificial intelligence (AI) story underneath. Investors are betting that Affle isn't just another ad-tech player but a 'tech-first company' using AI to reshape how digital ads work. This narrative, combined with actual profitability and growth, has kept investors interested.

At...