Green hydrogen, derived from renewable energy through electrolysis, is gaining traction as India shifts toward cleaner energy solutions. Stocks tied to this sector reflect companies driving this change. For investors eyeing opportunities, opening a trading account and demat account offers a way to engage with these firms. This section explores key players in the green hydrogen space, ranked by market capitalization, alongside insights into their role in India’s sustainable energy journey.
What are Green Hydrogen Stocks?
Green hydrogen stocks are shares of companies engaged in producing, distributing, or applying green hydrogen—a clean energy source created by splitting water using renewable power. These firms range from energy giants to emerging players. For instance, Reliance Industries and Adani Enterprises have made notable strides in this field. Investors interested in opening a trading account or demat account can explore these stocks to participate in India’s clean energy journey.
Green Hydrogen Industry in India
India’s green hydrogen sector is expanding, supported by the National Hydrogen Energy Mission, which aims to scale production to 5 million tonnes by 2030. Major companies are investing heavily:
- Reliance Industries: Committing $10 billion to the Dhirubhai Ambani Green Energy Giga Complex.
- Adani Enterprises: Pledging $70 billion for renewable energy and green hydrogen projects.
This growth signals opportunities for those tracking upcoming IPOs in the renewable space or considering a brokerage calculator to assess investment costs.
What are the Features of Green Hydrogen Stocks in India
- Growth Potential: India’s goal to produce 5 million tonnes of green hydrogen by 2030 opens doors for companies in this space (Source: Economic Times). Stocks tied to this target could see upward movement, especially for those tracking upcoming IPOs or using intraday trading to catch short-term gains.
- Sustainability: These stocks appeal to anyone focused on eco-friendly investments. They support India’s shift to lower carbon emissions, aligning with global green trends—perfect for investors opening a demat account to build a sustainable portfolio.
- Technological Innovation: Firms are pouring funds into better ways to make and store hydrogen, like improved electrolysis setups. This push could cut costs over time, making stocks more attractive for those using a brokerage calculator to weigh long-term returns or MTF for leveraged plays.
Top Green Hydrogen Stocks in India as per Market Capitalisation
The table below presents the leading green hydrogen stocks in India, ranked by market capitalisation. It includes key stock details such as last price, percentage change, 52-week high and low, and market cap.
Company Name
| Last Price (₹)
| % Change
| 52-Week High (₹)
| 52-Week Low (₹)
| Market Cap (₹ Crore)
| Industry
|
NTPC
| 331.7
| 0.48
| 448.3
| 292.7
| 321,638.42
| Power Generation/Distribution
|
Adani Green Energy
| 873.95
| 2.41
| 2,173.65
| 758
| 138,436.52
| Renewables
|
Tata Power
| 350.75
| -1.49
| 494.85
| 326.25
| 112,076.53
| Power Generation/Distribution
|
JSW Energy
| 514
| -0.29
| 804.95
| 419.1
| 89,835.30
| Power Generation/Distribution
|
NTPC Green Energy
| 96.24
| -1.29
| 155.3
| 84.6
| 81,095.00
| Power Generation/Distribution
|
Source: MoneyControl as of Mar 13, 2025
Overview of Green Hydrogen Stocks in India by Market Cap
The table below provides a summarized market cap overview of major green hydrogen stocks in India.
Company Name
| Market Cap (₹ Crore)
|
NTPC
| 321,638.42
|
Adani Green Energy
| 138,436.52
|
Tata Power
| 112,076.53
|
JSW Energy
| 89,835.30
|
NTPC Green Energy
| 81,095.00
|
Source: MoneyControl
NTPC Ltd.
NTPC Ltd. is India's largest power generation company, playing a significant role in green hydrogen initiatives. It has a diversified energy portfolio, including thermal, hydro, solar, wind, and nuclear energy projects. NTPC has been investing in green hydrogen production and renewable energy integration to support India's transition to cleaner energy.
Key Financials & Stock Performance
Following are the key financial metrics for NTPC Ltd.
Metric
| Value
|
Market Cap
| ₹3,21,832 Cr
|
Last Price
| ₹331.90
|
52-Week High
| ₹448.45
|
52-Week Low
| ₹292.80
|
Dividend Yield
| 2.34%
|
P/E Ratio
| 14.64
|
Book Value
| ₹173.54
|
Source: MoneyControl
Key Insights:
- NTPC is a market leader in power generation, actively expanding into green hydrogen projects.
- The company is investing in renewable hydrogen initiatives as part of India's National Hydrogen Mission.
- Maintains a strong financial position with significant government backing.
- Increasing focus on reducing carbon emissions through sustainable energy solutions.
Adani Green Energy Ltd.
Adani Green Energy Ltd. (AGEL) is one of India's leading renewable energy companies, focused on solar and wind energy. The company is aggressively investing in green hydrogen to support India's clean energy goals.
Key Financials & Stock Performance
Following are the key financial metrics for Adani Green Energy:
Metric
| Value
|
Market Cap
| ₹1,38,389 Cr
|
Last Price
| ₹873.65
|
52-Week High
| ₹2,174.10
|
52-Week Low
| ₹758.00
|
P/E Ratio
| 101.47
|
Book Value
| ₹66.77
|
Source: MoneyControl
Key Insights:
- One of India's largest renewable energy firms, with growing investments in green hydrogen.
- Recently raised $1.06 billion to finance a renewable energy project in Rajasthan.
- Backed by the Adani Group, ensuring strong financial support.
- Has been rapidly expanding its solar and wind energy portfolio.
Tata Power Ltd.
Tata Power Ltd. is India's largest integrated power company, with a significant presence in the renewable energy sector, including solar, wind, and hydropower. It has been working on developing green hydrogen solutions to complement its clean energy initiatives.
Key Financials & Stock Performance
Following are the key financial metrics for Tata Power:
Metric
| Value
|
Market Cap
| ₹1,12,076 Cr
|
Last Price
| ₹350.75
|
52-Week High
| ₹494.85
|
52-Week Low
| ₹326.35
|
P/E Ratio
| 29.30
|
Book Value
| ₹105.40
|
Source: MoneyControl
Key Insights:
- Leading private sector power company with extensive renewable energy operations.
- Recently signed an MoU with Assam Government to develop a 5000 MW renewable energy project.
- Investing in green hydrogen projects to support India's clean energy objectives.
- Focuses on sustainable energy expansion while maintaining a strong market presence.
JSW Energy Ltd.
JSW Energy is a major player in India's power sector, focusing on thermal, hydro, and renewable energy. The company is actively investing in green hydrogen and has been acquiring clean energy assets to boost its renewable portfolio.
Key Financials & Stock Performance
Following are the key financial metrics for JSW Energy:
Metric
| Value
|
Market Cap
| ₹89,852 Cr
|
Last Price
| ₹514.10
|
52-Week High
| ₹804.90
|
52-Week Low
| ₹418.75
|
P/E Ratio
| 47.43
|
Book Value
| ₹160.05
|
Source: MoneyControl
Key Insights:
- Expanding its renewable energy capacity with a focus on green hydrogen.
- Recently acquired Virya Infrapower Private Limited as part of its clean energy expansion strategy.
- Aims to reach a 20 GW renewable energy capacity by 2030.
- Plans to integrate hydrogen production with solar and wind energy projects.
NTPC Green Energy Ltd.
NTPC Green Energy Ltd. is a subsidiary of NTPC Ltd., focusing exclusively on renewable energy. The company is a major player in India's green hydrogen and solar energy sectors.
Key Financials & Stock Performance
Following are the key financial metrics for NTPC Green Energy:
Metric
| Value
|
Market Cap
| ₹81,103 Cr
|
Last Price
| ₹96.25
|
52-Week High
| ₹155.35
|
52-Week Low
| ₹84.55
|
P/E Ratio
| N/A
|
Book Value
| ₹10.65
|
Source: MoneyControl
Key Insights:
- A key subsidiary of NTPC, dedicated to renewable energy expansion.
- Recently commissioned a 50 MW solar power plant in Madhya Pradesh.
- Actively involved in India's hydrogen energy transition projects.
- Government-backed company ensuring long-term growth in the green energy space.
What Factors Should One Consider Before Investing in Green Hydrogen Sector Stocks in India?
Before diving into green hydrogen stocks, weigh these points:
- Government Policies: Subsidies and missions like the National Hydrogen Energy Mission can influence growth.
- Financial Health: Look at market cap, profits, and debt levels of companies.
- Technology: Assess investments in production and storage infrastructure.
- Demand: Adoption in sectors like transport and manufacturing matters.
- Regulations: Compliance with environmental norms is key.
Using a brokerage calculator can help estimate costs when setting up a trading account for these stocks.
What Factors Influence the Performance of Green Hydrogen Stocks?
The performance of green hydrogen stocks depends on multiple factors, including:
Factor
| Impact on Green Hydrogen Stocks
|
Government Policies
| Incentives, subsidies, and regulations significantly affect stock performance.
|
Cost of Hydrogen Production
| Higher production costs can limit profitability.
|
Adoption by Industries
| Increased demand from automotive, power, and industrial sectors boosts stock value.
|
Technological Advancements
| Innovations in electrolysis and fuel cells improve efficiency and reduce costs.
|
Global Market Trends
| Growth in international hydrogen demand influences stock prices.
|
Macroeconomic Factors
| Inflation, interest rates, and currency fluctuations affect investor sentiment.
|
How Do Green Hydrogen Stocks Work?
Green hydrogen stocks reflect companies that produce hydrogen via renewable-powered electrolysis, store it, and supply it for uses like fuel cells or industrial processes. Their value shifts with policy support, demand, and tech breakthroughs. Revenue comes from hydrogen sales or government contracts. Investors eyeing intraday trading or MTF might note how these factors drive daily price changes.
Tips for Investing in Green Hydrogen Industry in India
Investing in green hydrogen requires strategic analysis. Consider the following tips:
- Evaluate Market Leaders – Invest in companies with a strong renewable energy presence.
- Check Financial Strength – Prefer companies with stable financials and growth potential.
- Assess R&D Investments – Companies with high investment in hydrogen tech have a competitive edge.
- Track Government Policies – Favor stocks aligned with India's National Hydrogen Mission.
- Diversify Portfolio – Include both established and emerging players to balance risk.
How to Pick Green Hydrogen Stocks
Selecting green hydrogen stocks involves steps like:
- Market Cap Analysis: Larger firms offer stability; smaller ones may grow faster.
- Production Scale: Check hydrogen project capacities.
- Financial Metrics: Review P/E ratios and revenue trends (Source: Moneycontrol).
- Policy Benefits: Look for companies tied to government incentives.
- Innovation: Favor firms advancing hydrogen tech.
A demat account lets you track these stocks, while a brokerage calculator aids in cost planning.
Who Should Explore Green Hydrogen Stocks?
Green hydrogen stocks suit:
- Long-Term Investors: Seeking growth in India’s energy shift.
- ESG Advocates: Focused on sustainable investments.
- Risk-Tolerant Individuals: Open to volatility in emerging sectors.
- Institutions: Funds eyeing clean energy exposure.
Those interested in upcoming IPOs or using MTF for leverage might also find this sector appealing.
Why Invest in Green Hydrogen Stocks?
Green hydrogen stocks provide multiple benefits, including:
Reason
| Impact
|
Government Push for Hydrogen
| India’s National Hydrogen Mission supports industry growth.
|
Sustainability and ESG Growth
| Demand for clean energy is rising among investors.
|
Diverse Industrial Applications
| Used in transportation, power, and industrial sectors.
|
Energy Transition Opportunity
| Shift from fossil fuels to hydrogen boosts company valuations.
|
Potential for High Returns
| Early investments can benefit from future expansion.
|
Should You Invest in Green Hydrogen Stocks?
Investing in green hydrogen stocks depends on:
- Investment Goals – Ideal for long-term, growth-oriented investors.
- Risk Tolerance – Suitable for those willing to accept industry volatility.
- Market Trends – Assess the demand for green hydrogen across industries.
- Government Policies – Monitor subsidies, incentives, and regulatory support.
- Company Performance – Review financials, projects, and hydrogen production capacity.
If you seek sustainable investments with long-term potential, green hydrogen stocks can be a viable option.
What Are the Risks of Investing in Green Hydrogen Stocks in India?
Investors must be aware of potential risks before entering this sector:
Risk Factor
| Impact on Investment
|
High Production Costs
| Expensive electrolysis process limits profitability.
|
Government Policy Changes
| Reduction in subsidies can impact stock prices.
|
Market Volatility
| Stocks may fluctuate due to demand and adoption rates.
|
Infrastructure Gaps
| Limited storage and distribution infrastructure hinders growth.
|
Competition with Other Renewables
| Solar and wind energy may overshadow hydrogen adoption.
|
What Are the Advantages of Investing in Green Hydrogen Stocks in India?
- Government Backing: Policies like the National Hydrogen Mission fuel growth (Source: Economic Times).
- Renewable Synergy: Ties into solar and wind projects.
- Industrial Use: Demand spans steel, transport, and power.
- Growth Outlook: Long-term potential as energy evolves.
- Portfolio Variety: Adds a clean energy angle.
Investors can use a trading account for intraday trading or hold via a demat account to tap these benefits.
Who Can Invest in Green Hydrogen Stocks?
- Retail Investors: Everyday individuals keen on India’s clean energy shift can dive in. Opening a trading account or demat account lets them buy shares of green hydrogen companies, even in small amounts, to ride the sector’s growth wave.
- Institutional Investors: Big players like mutual funds or pension funds looking for sustainable assets might find these stocks a fit. They often use a brokerage calculator to plan large-scale investments or track upcoming IPOs in the renewable space.
- High Net-Worth Individuals (HNIs): Wealthy investors with an eye on long-term gains can explore this sector. Some might opt for MTF to boost their buying power, balancing risks with potential rewards in this emerging market.
- Foreign Investors: Those outside India interested in the country’s green push can participate too. With policies easing foreign investment, they might use intraday trading to tap short-term moves or hold for bigger shifts.
- Government & Corporate Entities: Public sector funds or companies aiming to back sustainability could invest. They often have the resources to analyze trends deeply, making green hydrogen stocks a strategic pick.
Is Investing in Green Hydrogen Stocks Risky?
Yes, investing in green hydrogen stocks carries risks, including:
Risk Factor
| Impact on Investment
|
High Production Costs
| Electrolysis and hydrogen storage are expensive.
|
Regulatory Uncertainty
| Government incentives and policies can change.
|
Market Volatility
| Stock prices can fluctuate based on demand.
|
Technology Risks
| Hydrogen technology is still evolving.
|
Infrastructure Challenges
| Limited storage and distribution networks affect scalability.
|
Despite risks, government support and rising demand make green hydrogen stocks a promising long-term investment.
How to Invest in Green Hydrogen Stocks
Investing in green hydrogen stocks involves the following steps:
- Open a Trading & Demat Account – Register with a stockbroker to buy shares.
- Research Companies – Analyze financials, market cap, and hydrogen-related projects.
- Use a Brokerage Calculator – Estimate charges and profitability before trading.
- Evaluate Market Trends – Monitor government policies and industry adoption.
- Invest via Intraday Trading or Long-Term Holding – Choose between short-term and long-term investment strategies.
- Track Performance – Regularly review stock movements and industry developments.
By following these steps, investors can effectively participate in India's growing green hydrogen market.
What is the Impact of Government Policies on Green Hydrogen Stocks?
Government policies play a pivotal role in shaping the green hydrogen sector, directly influencing the performance of related stocks. Key policy impacts include:
- Financial Incentives: Subsidies, tax credits, and grants reduce production costs, making green hydrogen more competitive. For instance, the Indian government's Production Linked Incentive (PLI) scheme aims to boost domestic manufacturing of renewable energy technologies, including green hydrogen.
- Strategic Missions: Initiatives like India's National Green Hydrogen Mission set ambitious production targets, fostering industry growth and investor confidence.
- Foreign Investment Policies: Allowing 100% Foreign Direct Investment (FDI) under the automatic route attracts global capital, enhancing sector development.
How Green Hydrogen Stocks Perform in Economic Downturns
During economic downturns, green hydrogen stocks may experience:
- Reduced Investment: Economic slowdowns can lead to decreased funding for renewable projects, affecting company revenues.
- Policy Support: Governments may introduce stimulus packages focusing on sustainable energy, potentially mitigating negative impacts.
- Long-Term Contracts: Companies with long-term agreements may maintain stable revenues despite short-term economic fluctuations.
Green Hydrogen Sector Highlights from Union Budget 2025-2026
The Union Budget 2025-2026 underscored India's commitment to green energy:
- Increased Funding: The National Green Hydrogen Mission received an allocation of ₹600 crore, doubling the previous year's revised estimate, to enhance green hydrogen production.
- Research and Innovation: A ₹20,000 crore allocation aims to bolster private sector-driven research, development, and innovation, potentially benefiting green hydrogen technologies.
- Manufacturing Support: The PLI scheme continues to incentivize domestic manufacturing of renewable energy components, including those for green hydrogen.
Future Trends and Opportunities of Investing in Green Hydrogen Stocks
Investors can anticipate several trends:
- Technological Advancements: Ongoing R&D is expected to lower production costs, enhancing profitability.
- Global Adoption: Increased international focus on sustainability may drive demand for green hydrogen, opening new markets.
- Policy Continuity: Sustained government support through initiatives and incentives will likely bolster sector growth.
What is the GDP Contribution of Green Hydrogen Sector Stocks?
As of March 2025, the green hydrogen sector's direct contribution to India's GDP remains modest but is poised for growth. With substantial investments and supportive policies, the sector is expected to become a significant economic contributor in the coming years. Precise figures are currently limited due to the sector's nascent stage.
What is the Future of Green Hydrogen Stocks?
The future of green hydrogen stocks in India appears promising, driven by several key factors:
- Government Initiatives: The Indian government has launched the National Green Hydrogen Mission, aiming to produce 5 million tonnes of green hydrogen annually by 2030. This initiative is expected to stimulate investment and growth in the sector.
- Corporate Investments: Major Indian conglomerates are making substantial investments in green hydrogen. For instance, Reliance Industries is developing the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat, to establish a fully integrated renewable energy manufacturing hub.
- Technological Advancements: Ongoing research and development are leading to more efficient and cost-effective green hydrogen production methods, enhancing the sector's viability.
These developments suggest a robust growth trajectory for green hydrogen stocks in the coming years.
Why is It Worth Buying Green Hydrogen Stocks Now?
Investing in green hydrogen stocks currently offers several advantages:
- Early Adoption Benefits: Entering the market at an early stage allows investors to capitalize on potential high returns as the sector expands.
- Government Support: Policies favoring renewable energy, including financial incentives and subsidies, create a conducive environment for growth.
- Global Shift to Sustainability: With a worldwide emphasis on reducing carbon emissions, green hydrogen is poised to play a crucial role in the energy transition, increasing demand and profitability.
These factors make green hydrogen stocks an attractive investment opportunity.
Conclusion
The green hydrogen sector in India is on the cusp of significant growth, propelled by supportive government policies, substantial corporate investments, and technological innovations. Investors with a focus on sustainable and potentially high-growth opportunities may find green hydrogen stocks to be a valuable addition to their portfolios. However, as with any investment, it is essential to conduct thorough research and consider individual financial goals and risk tolerance.
Other Popular Stocks in India
Beyond the well-known companies like NTPC, Adani Green Energy, Tata Power, JSW Energy, and NTPC Green Energy, several other notable players in India's green hydrogen sector include:
- Adani Enterprises: The flagship entity of the Adani Group, Adani Enterprises has diversified into green hydrogen production through its subsidiary, Adani New Industries.
- ReNew Energy Global: Formerly known as ReNew Power, this company has rebranded to emphasize its commitment to decarbonization solutions, including green hydrogen projects.
- Avaada Group: Specializing in renewable energy, Avaada Group has expanded into green hydrogen and ammonia production, aligning with global sustainability trends.
- Onix Renewable: An emerging player in the renewable energy sector, Onix Renewable is exploring green hydrogen production alongside its solar and wind energy projects.
Investors seeking diversification within the green hydrogen sector may consider these companies as potential investment opportunities.