Green Hydrogen is an environment-friendly gas that has caught the attention of some of the largest companies and governments around the world, as they are trying to pivot to a more sustainable source of energy.
Green Hydrogen is one of the cleanest forms of energy in the world and is one of the ultimate solutions to achieve net zero emissions. Here are three green hydrogen companies in which brokerages see an upside of up to 60%:
Indian Oil Corporation (IOC)
IOC is a Maharatna company controlled by the government of India. Its business straddles in the entire hydrocarbon value chain. It had announced its plans to build a green hydrogen plant at its Mathura refinery in Uttar Pradesh. The unit is likely to have a capacity of around 160,000 barrels per day.
Prabhudas Lilladher has a buy call on the shares with a target price of ₹ 130.00. This translates to an upside of 59.80 % as compared to its share price of ₹ 81.35 apiece on Friday.
Reliance Industries
The index heavyweight is the largest private-sector oil and gas company. It has announced its plans to become a carbon-zero firm by 2035 and aims to replace transportation fuels with clean electricity and hydrogen.
Jefferies has maintained a target price of ₹ 3,110 per share, which is an upside of 33.67% as compared to its closing share price of ₹ 2326.55 apiece on Friday.
NTPC
NTPC plans to produce green hydrogen on a commercial scale in various cities across India. It has been promoting the usage of green hydrogen-based solutions in sectors like mobility, energy, chemical, fertiliser, steel etc.
Emkay Global has a buy call on the shares of NTPC with a target price of ₹ 200.00 apiece. This suggests an upside of 20.62% as compared to its current share price of ₹ 165.80 apiece.
Written by Simran Bafna
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