Best Green Hydrogen Stocks in India (2025)
According to a recent report, energy use has doubled in the last twenty years and is likely to grow by at least 25% by 2030. As a result, many countries are rapidly investing in renewable energy resources, including green hydrogen. Consequently, the green hydrogen industry in India is gaining popularity. The stocks of hydrogen companies involved in producing, storing, and distributing green hydrogen have become increasingly popular among investors.
The future of green hydrogen looks promising, making hydrogen sector stocks in India an attractive option for many investors. This blog will discuss the growing green hydrogen market, top green hydrogen stocks in India and their parameters.
Best Green Hydrogen Stocks in India for 2025
Here is a list of the top-performing green hydrogen stocks in India:
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADNA | Adani Green Energy Ltd | ADANIGREEN | /stocks/adani-green-energy-ADNA | Renewable Energy | 879.45 | 2,174.10 | 758.00 | 140,036.72 | 96.98 | 23.69 | 8.03 | 0.00 | 8.87 | -48.72 | -66.79 | 295.08 | Largecap | Utilities | Independent Power and Renewable Electricity Producers | Renewable Electricity | 6.95 |
| BPCL | Bharat Petroleum Corporation Ltd | BPCL | /stocks/bharat-petroleum-corporation-BPCL | Oil & Gas - Refining & Marketing | 306.85 | 376.00 | 234.01 | 133,127.04 | 9.98 | 16.56 | 1.76 | 3.21 | 41.59 | 1.12 | 76.81 | 94.95 | Largecap | Energy | Oil, Gas & Consumable Fuels | Oil & Gas Refining & Marketing | 0.72 |
| GAIL | Gail (India) Ltd | GAIL | /stocks/gail-india-GAIL | Gas Distribution | 181.60 | 246.30 | 150.52 | 119,403.45 | 12.06 | 23.69 | 1.55 | 3.03 | 13.91 | -5.88 | 80.79 | 196.01 | Largecap | Utilities | Gas Utilities | Gas Utilities | 3.41 |
| IOC | Indian Oil Corporation Ltd | IOC | /stocks/indian-oil-corporation-IOC | Oil & Gas - Refining & Marketing | 139.99 | 185.97 | 110.72 | 197,683.22 | 14.54 | 16.56 | 1.05 | 2.09 | 25.19 | -11.51 | 74.33 | 178.59 | Largecap | Energy | Oil, Gas & Consumable Fuels | Oil & Gas Refining & Marketing | 1.69 |
| JIST | Jindal Stainless Ltd | JSL | /stocks/jindal-stainless-JIST | Iron & Steel | 579.60 | 848.00 | 496.60 | 47,738.78 | 19.06 | 27.39 | 3.32 | 0.52 | 20.60 | -14.78 | 298.35 | 1,933.68 | Midcap | Materials | Metals & Mining | Steel | 5.24 |
| JSWE | JSW Energy Ltd | JSWENERGY | /stocks/jsw-energy-JSWE | Power Generation | 459.85 | 804.90 | 418.75 | 80,255.27 | 46.59 | 23.69 | 3.82 | 0.41 | 8.67 | -19.94 | 77.89 | 1,055.40 | Midcap | Utilities | Independent Power and Renewable Electricity Producers | Independent Power Producers & Energy Traders | 4.62 |
| LART | Larsen and Toubro Ltd | LT | /stocks/larsen-and-toubro-LART | Construction & Engineering | 3,443.90 | 3,963.50 | 2,965.30 | 473,633.04 | 31.50 | 38.58 | 4.62 | 0.99 | 12.67 | 4.56 | 119.24 | 319.17 | Largecap | Capital Goods | Construction & Engineering | Construction & Engineering | 4.16 |
| NTPC | NTPC Ltd | NTPC | /stocks/ntpc-NTPC | Power Generation | 334.75 | 448.45 | 292.80 | 324,595.90 | 15.60 | 23.69 | 1.97 | 2.32 | 13.17 | -4.60 | 119.44 | 286.32 | Largecap | Utilities | Independent Power and Renewable Electricity Producers | Independent Power Producers & Energy Traders | 4.12 |
| ONGC | Oil and Natural Gas Corporation Ltd | ONGC | /stocks/oil-and-natural-gas-corporation-ONGC | Oil & Gas - Exploration & Production | 234.96 | 345.00 | 205.00 | 295,586.24 | 6.01 | 16.56 | 0.81 | 5.21 | 14.73 | -11.97 | 48.15 | 204.94 | Largecap | Energy | Oil, Gas & Consumable Fuels | Integrated Oil & Gas | 3.86 |
| RELI | Reliance Industries Ltd | RELIANCE | /stocks/reliance-industries-RELI | Oil & Gas - Refining & Marketing | 1,377.20 | 1,608.80 | 1,114.85 | 1,863,692.13 | 26.76 | 16.56 | 2.01 | 0.40 | 7.94 | -1.82 | 23.87 | 92.41 | Largecap | Energy | Oil, Gas & Consumable Fuels | Oil & Gas Refining & Marketing | 4.31 |
Disclaimer: Please note that the above table is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.
Note: The data in the best green hydrogen stocks in India list is dynamic and subject to real-time changes. This data is derived from Tickertape Stock Screener.
🚀 Pro Tip: You can use Tickertape’s Stock Screener to research and evaluate stocks with over 200+ filters and parameters.
Top Green Hydrogen Companies in India: An Overview
Here is a brief overview of the top green hydrogen companies in India listed in NSE from our curated list above, which represent some of the top hydrogen stocks in the market:
Bharat Petroleum Corporation Ltd
Bharat Petroleum Corporation Ltd (BPCL) is a leading oil and gas company in India, actively investing in green hydrogen technology. Partnering with Bhabha Atomic Research Centre (BARC) in 2021, BPCL is developing Alkaline electrolyser technology for green hydrogen production. The company aims to achieve 1,000 MW capacity by 2027 using renewable energy sources.
Indian Oil Corporation Ltd
Indian Oil Corporation Ltd (IOCL) is India’s largest oil-refining and marketing company, expanding its presence in green hydrogen. With expertise in refining, petrochemicals, and energy solutions, IOCL is strategically investing in hydrogen production to lead India’s clean energy transition. The company is a key player in the country’s hydrogen economy and sustainability initiatives.
Jindal Stainless Ltd
Haryana’s first green hydrogen project in Hisar was set up by Jindal Stainless Ltd. with Hygenco and inaugurated by Union Minister Jyotiraditya M. Scindia. As potentially one of the most promising hydrogen power stocks, this project aims to cut 2,700 metric tonnes of carbon emissions annually, totalling 54,000 tonnes over 20 years. It also includes floating solar panels to minimise water evaporation.
Oil and Natural Gas Corporation Ltd
ONGC, India’s largest crude oil and natural gas producer, is making a significant push into green hydrogen. The Maharatna company plans to invest ₹ 800-850 bn ($9.6-10.2 bn) by 2035 to establish a green hydrogen production capacity of two million tonnes per year. This move strengthens its position in India’s renewable energy landscape.
Gail (India) Ltd
GAIL (India) Ltd is a state-owned natural gas company and a key player in India’s hydrogen economy. It focuses on gas transmission, marketing, and petrochemicals while expanding into green hydrogen production. Among the top-performing hydrogen stocks, GAIL is actively working on hydrogen blending and electrolyser projects to support India’s clean energy transition and reduce carbon footprints.
Confused About Which Green Hydrogen Stocks to Invest in? Consider Exploring smallcase
Green Energy smallcase: This smallcase comprises a portfolio of stocks positioned to gain from the shift in energy production towards renewables from fossil fuels. This transition spurs growth throughout the energy sector, especially in transmission and distribution. It involves upgrading grid infrastructure for better stability and enhancing distribution networks for efficiency.
However, if you’re confused about which stocks to pick, you can explore smallcases:
- smallcases are readymade model portfolios of stocks/ETFs, that are based on a theme idea or strategy
- They’re created and managed by SEBI-registered investment experts (also known as smallcase managers)
- smallcase offers over 500+ stock portfolios, created by 200+ managers
Here are a few popular smallcases among new investors:
Disclosures for aforementioned smallcases
Disclosure for the Green Energy smallcase.
What are Green Hydrogen Stocks in India?
Green hydrogen is a form of renewable energy. This fuel is already being hailed as the key to global decarbonisation and fulfilling climate change commitments by 2050, which is why many investors are excited about the future of green hydrogen.
Green hydrogen energy stocks refer to the hydrogen companies’ stock in India that produce, store, and distribute green hydrogen. Companies in the green hydrogen energy market in India use wind or solar power to power the electrolysis process for green hydrogen production, where an electrolyser is used to split water into hydrogen and oxygen.
Union Budget 2025-26 Allocations Relevant to the Green Hydrogen Sector
The National Green Hydrogen Mission sees its budget doubled to ₹600 cr. in the Union Budget 2025-26, against ₹300 cr. (Received Estimate) in 2024-25. This significant increase highlights the government’s commitment to the hydrogen market and industry in India. Targeting an annual production of 5 million metric tons by 2030, this mission seeks to transform India into a major global producer and exporter of green hydrogen. The National Green Hydrogen Mission is designed to facilitate the transition to a low-carbon economy, reduce dependence on fossil fuel imports, and establish India as a leader in green hydrogen technology and market dynamics. These developments are promising for investors looking at top hydrogen stocks in the country.
National Green Hydrogen Mission
As India’s economy expands, its energy and resource demands are set to rise. The National Green Hydrogen Mission aims to drive the country toward energy independence by 2047 and achieve net-zero emissions by 2070. Launched as part of the National Hydrogen Mission, it promotes the development and adoption of green hydrogen as a sustainable energy source.
To build a robust green hydrogen ecosystem, the mission fosters innovation, investment, and economic growth. It also supports the establishment of Green Hydrogen Hubs—regions capable of large-scale hydrogen production and utilisation. At least two such hubs will be developed in the initial phase, with an allocation of ₹400 crore up to 2025-26 for infrastructure and related projects. This strategic initiative positions India as a leader in the global hydrogen economy and can boost green hydrogen stock performance.
Features of Green Hydrogen Stocks in India
Green hydrogen stocks on the Indian NSE represent a burgeoning sector at the forefront of sustainable energy. Understanding their distinctive features is crucial for informed investment decisions.
- Production Methods: The best green hydrogen fuel stocks in India derive their appeal from environmentally friendly production methods. Electrolysis powered by renewable energy sources, such as solar and wind, distinguishes them from conventional hydrogen production, positioning them among the best renewable energy stocks.
- Carbon Neutrality: Sustainable energy hydrogen stocks strive to minimise or completely offset their carbon footprint, contributing to global efforts to combat climate change and enhancing their appeal as the best green energy stocks.
- Technological Innovation: Green hydrogen companies in India listed in NSE invest in advanced electrolysis techniques, efficient storage solutions, and scalable production methods. These innovations highlight the sector’s drive towards enhancing the efficiency and viability of green hydrogen as an energy source, which is critical for the hydrogen market growth.
- Strategic Partnerships: The formation of strategic partnerships with hydrogen fuel cell companies in India, governments, and technology providers plays a significant role in the scalability and success of green hydrogen initiatives. These collaborations are pivotal in overcoming industry challenges and achieving long-term objectives, which is why many of the largest hydrogen companies are forming strategic alliances.
- Market Dynamics: Factors such as global demand, competition, and geopolitical influences are key determinants of the performance of green hydrogen stocks in India and the overall hydrogen market.
Benefits of Investing in Green Hydrogen Stocks
Thus, there are several advantages to adding green hydrogen stocks in India to your portfolio.
- Growth Potential: The demand for clean energy is increasing as more countries and businesses commit to reducing their carbon footprint. As a result, the demand for green hydrogen companies’ stock in India is expected to grow rapidly in the coming years, which could lead to significant opportunities in the hydrogen market.
- Diversification: Green hydrogen investments or the best hydrogen fuel cell stocks are less likely to be correlated with other assets in your portfolio, such as traditional renewable hydrogen energy stocks or bonds.
- Environmental Benefits: Green hydrogen shares in India support transitioning to a more sustainable and environmentally friendly energy system. Thus, investing in green hydrogen production companies in India that produce or use green hydrogen can potentially contribute to developing a low-carbon economy, which is the future of green hydrogen.
- Innovation and Technological Advancements: Investing in hydrogen technology stocks can support the development of new technologies and innovations in the energy sector. Hence, this can lead to new investment opportunities as green hydrogen-listed companies in India develop and commercialise new products and services, including hydrogen cars and power stocks.
Challenges of Investing in Green Hydrogen Stocks
When evaluating the best hydrogen stocks in India, it’s essential to consider specific challenges the hydrogen industry faces, which can be viewed as opportunities for innovation and growth.
- High Costs: Some may view the production of green hydrogen as expensive due to the hydrogen technology used in the electrolysis process. However, with increased demand and technological advancements in the green hydrogen industry, cost reductions can occur with improved efficiency, potentially boosting hydrogen stock prices.
- Limited Infrastructure: The infrastructure for storing, transporting, and distributing green hydrogen is not yet well developed. However, this presents an opportunity for green hydrogen manufacturing companies in India to invest in new infrastructure (such as pipelines and storage facilities), creating new jobs and economic growth in the hydrogen market.
- Competition from Fossil Fuels: Though fossil fuels remain cheaper than green hydrogen, they are harmful in the long run. Thus, increasing awareness about the environmental impacts of fossil fuels presents an opportunity for green hydrogen fuel companies to become a more competitive option in the long run.
- Regulation and Policy: Regulations and policies surrounding the production and use of green hydrogen are still in their early stages. However, this presents an opportunity for policymakers to collaborate with hydrogen industry leaders to incentivise the growth of the top-performing hydrogen stocks.
How to Identify the Best Green Hydrogen Stocks?
Investing in green hydrogen, a key component of India’s renewable energy strategy, requires discernment and strategic analysis. Here’s how you can identify the best hydrogen stocks in India:
- Understand the Industry: It can be helpful to gain a solid understanding of the green hydrogen industry and its applications across various sectors, such as fertilisers, steel, and mobility, including the potential for hydrogen car stocks.
- Research Companies: To analyse the green hydrogen stock performance of listed companies, it’s essential to consider their financial stability, technological innovation, and long-term growth potential in the hydrogen market.
- Financial Analysis: Investors can evaluate the economic stability of these hydrogen power companies through their financial statements, focusing on profitability, revenue streams, and overall financial health.
- Government Policies: It can be helpful to analyse the impact of Indian government initiatives like the National Hydrogen Mission, which might influence the green hydrogen sector growth and bring potential subsidies and incentives for hydrogen companies stock.
- ESG Factors: Consider Environmental, Social, and Governance (ESG) ratings to ensure sustainable and responsible investing in top-performing hydrogen stocks in the country.
Who Should Explore Green Hydrogen Sector Stocks?
India green hydrogen sector is particularly suited for a specific investor profile due to the unique characteristics and stage of the industry. Here’s who should consider investing in the best hydrogen stocks:
- Risk-Tolerant Investors: Given the emergent nature of the green hydrogen industry, it can entail higher volatility and risk. Investors who are exploring hydrogen stocks for long-term growth should be able to withstand potential downturns and have a higher risk appetite.
- ESG-focused Investors: Individuals or institutions looking to bolster their portfolios with environmentally sustainable investments will find that top green hydrogen stocks align well with their goals.
- Diversified Investors: Green hydrogen stocks can broaden the investment landscape of those seeking to diversify their portfolios across different energy sources, especially in renewable energy stocks and future technologies like hydrogen power stocks.
Factors to Consider Before Investing in Green Hydrogen Companies in India
Here are some of the most important factors to keep in mind when considering hydrogen stocks for investment:
- Government Policies and Regulations: Green hydrogen production in India is in its nascent stages, making it essential for investors to stay informed about renewable energy policies. This includes the National Green Hydrogen Projects, alongside available incentives and subsidies for green hydrogen fuel companies in India.
- Market Demand and Growth Potential: Investors must thoroughly research the expected demand for green hydrogen stocks in India and evaluate the long-term growth prospects of green hydrogen fuel companies.
- Financial Performance: Reviewing financial statements, including revenue growth, profit margins, and cash flow, will aid investors in making informed decisions about the best hydrogen stocks.
- Environmental Impact: Investors in green hydrogen companies in India are often motivated by the desire to affect the environment positively. Therefore, investors need to evaluate the environmental impacts of the hydrogen energy companies they are considering, especially when looking at the future of green hydrogen.
To Wrap It Up…
To conclude, green hydrogen is gaining attention as a clean energy source that can contribute to a sustainable future. The push toward renewable energy has placed every leading hydrogen company in India at the forefront of the green hydrogen revolution. Therefore, governments worldwide are prioritising decarbonisation and renewable energy, resulting in the rise of green hydrogen shares in India. Investors interested in renewable energy can now explore more green hydrogen stocks or check out the green hydrogen stocks at smallcase!
Frequently Asked Questions About Green Hydrogen Stocks
You can invest in green hydrogen stocks via:
– Stock Market
– Mutual Funds
– Exchange Traded Funds
– smallcase
Green hydrogen is used for various purposes. A few of them are;
– Transportation
– Industrial Processes
– Energy Storage
– Hydrogen Fuel Cells
– Chemical Industry
These applications showcase the versatility of the green hydrogen market.
Green hydrogen is hydrogen gas produced through electrolysis, a process in which water (H2O) is split into its constituent elements, hydrogen (H2) and oxygen (O2), using electricity. This process is central to the operations of hydrogen energy companies.
The timing of investing in green hydrogen fuel stocks in India depends on various factors, including your financial goals, risk tolerance, and market conditions. Green hydrogen is a promising but evolving sector within renewable energy stocks. Before investing, it’s crucial to conduct thorough research on the future of green hydrogen, consider the growth prospects, and assess your investment strategy.
Investors interested in sustainable energy and growth potential may consider green hydrogen fuel stocks and the broader hydrogen market. However, it’s crucial to diversify and assess personal financial goals and risk tolerance before investing in hydrogen companies.
No. Today, there aren’t many penny stocks involved in the production of green hydrogen in India. Most hydrogen power companies and hydrogen fuel cell companies are established entities.
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