What's new in Indian Green Hydrogen sector?
India's green hydrogen energy sector is set on a path towards energy independence by 2047 and aims to attain net zero emissions by 2070. Embracing green hydrogen energy is becoming increasingly vital for India to fulfill these ambitious goals.
This eco-conscious and sustainable fuel alternative is anticipated to be instrumental in transforming India's energy sector. Our blog sheds light on the top green hydrogen stocks in India, driving the nation towards a cleaner and more sustainable future.
Best Green Hydrogen Stocks in India
The table below showcases the top Green Hydrogen stocks in India right now based on multiple factors.
| Company Name | Market Cap (in Cr) | Current Price | PE Ratio |
|---|---|---|---|
| Reliance Industries | ₹ 19,68,849 | ₹ 2,910 | 28.2 |
| Oil & Natural Gas Corporation | ₹ 3,31,176 | ₹ 263 | 7.22 |
| NTPC Limited | ₹ 3,14,899 | ₹ 325 | 16.2 |
| Adani Green Energy Limited | ₹ 2,93,323 | ₹ 1,852 | 178 |
| GAIL (India) Ltd | ₹ 1,14,472 | ₹ 174 | 14.2 |
An Overview on Green Hydrogen Sector Stocks
In the domain of Green Hydrogen shares in India, numerous key players have emerged that provide diverse options for investment. Here is a list of the top Green Hydrogen stocks in 2024
Reliance Industries
Reliance Industries has committed a substantial $10 billion investment in green hydrogen production over the coming decade. They are in the process of establishing a 1 GW green hydrogen facility in Jamnagar, Gujarat, with plans for it to be operational by 2025. This plant will rely on renewable energy sources to power its electrolyzers, responsible for hydrogen production. Reliance Industries is one of the largest green hydrogen manufacturers in India.
Oil & Natural Gas Corporation
ONGC, a Maharatna company, stands as India's largest producer of crude oil and natural gas, contributing approximately 71% to the country's domestic production.
Geographically, its operations span across India, both offshore and onshore, as well as outside India. ONGC aims to elevate its share in India's hydrocarbon consumption from the current 22% to 27% by 2030. Moreover, ONGC has set a target to double its oil and gas production from both domestic and overseas fields by the year 2040.
NTPC Limited
The biggest power company in India, NTPC is currently engaged in a number of green hydrogen and other renewable energy initiatives. Their programs are meant to encourage sustainable energy usage and lessen carbon footprints.
GAIL Ltd
Keeping up with global energy trends and reducing its environmental effects, GAIL is extending its portfolio to include green hydrogen as a leader in the natural gas industry.
Adani Green Energy Limited
Leading the green revolution, Adani Green Energy is one of India's biggest providers of renewable energy. They are investigating green hydrogen as a sustainable energy source in addition to solar and wind energy.
To Sum Up
The green hydrogen energy sector seems promising for the long term. However, consider the uncertainty and future promise of profits before investing in these stocks.
Note: The data is as of 24th March 2024. The list of best Green Hydrogen stocks in India is derived from Market Cap, past perfromace, valuations and current order book. This is not a Financial Advice, please contact your financial advisor before investing or taking any trade. Team FinSort might have investments in any / all the stocks mentioned above.