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Top Green Hydrogen Stocks & Shares in India (2026)

India's National Green Hydrogen Mission targets a cumulative reduction of over ₹1 lakh cr in fossil fuel imports by 2030, signalling a structural shift towards cleaner energy sources. If execution keeps pace with policy ambition, companies positioned across the green hydrogen value chain - from electrolyser manufacturers to renewable energy suppliers - stand to benefit from sustained demand and government-backed offtake commitments.

List of Top Green Hydrogen Stocks in India 2026

Green Hydrogen Stock Screener

Green Hydrogen Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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Showing 1 - 12 of 12 results

last updated at 6:30 AM IST 
NameStocks (12)↓↓Sub-SectorSub-Sector↓↓Market CapMarket Cap↓↓Close PriceClose Price↓↓PE RatioPE Ratio↓↓1D Return1D Return↓↓1M Return1M Return↓↓6M Return6M Return↓↓1Y Return1Y Return↓↓PB RatioPB Ratio↓↓Return on EquityReturn on Equity↓↓ROCEROCE↓↓Dividend YieldDiv Yield↓↓Debt to EquityDebt to Equity↓↓Volatility vs NiftyVolatility vs Nifty↓
1.Reliance Industries LtdRELIANCEOil & Gas - Refining & MarketingOil & Gas - Refining & Marketing17,77,092.9817,77,092.981,313.201,313.2022.0022.000.170.17-1.93-1.93-7.48-7.48-7.06-7.061.641.647.717.719.189.180.460.460.370.371.431.43
2.Larsen and Toubro LtdLTConstruction & EngineeringConstruction & Engineering5,61,490.955,61,490.954,081.004,081.0034.9134.910.980.986.766.76-6.84-6.8413.6013.604.374.3713.1913.1916.4616.460.930.930.980.981.811.81
3.Adani Power LtdADANIPOWERPower GenerationPower Generation3,93,407.773,93,407.77204.00204.0030.6530.65-0.01-0.01-5.29-5.2942.9642.9670.0170.015.915.9120.6420.6415.5715.57--0.820.822.982.98
4.NTPC LtdNTPCPower GenerationPower Generation3,27,262.483,27,262.48337.50337.5012.1012.100.280.28-1.46-1.46-9.51-9.51-1.32-1.321.551.5513.4513.458.678.672.672.671.281.281.351.35
5.Power Grid Corporation of India LimitedPOWERGRIDPower Transmission & DistributionPower Transmission & Distribution2,46,279.992,46,279.99264.80264.8015.4615.460.490.49-6.89-6.89-11.42-11.42-8.18-8.182.452.4516.4916.499.559.553.403.401.471.471.521.52
6.Adani Green Energy LtdADANIGREENRenewable EnergyRenewable Energy2,14,429.392,14,429.391,301.801,301.80129.80129.800.680.68-14.15-14.1534.4534.4533.3933.397.187.186.306.306.916.91--3.473.473.003.00
7.Indian Oil Corporation LimitedIOCOil & Gas - Refining & MarketingOil & Gas - Refining & Marketing1,91,907.631,91,907.63135.90135.904.564.56-0.29-0.29-2.90-2.90-21.80-21.80-3.92-3.920.850.8520.2120.2120.7220.726.076.070.580.581.871.87
8.Bharat Petroleum Corporation LimitedBPCLOil & Gas - Refining & MarketingOil & Gas - Refining & Marketing1,33,929.661,33,929.66308.70308.705.185.180.550.55-1.33-1.33-15.72-15.72-3.52-3.521.341.3428.4728.4726.3626.365.585.580.540.542.052.05
9.Gail (India) LtdGAILGas DistributionGas Distribution1,13,420.121,13,420.12172.50172.5014.9614.960.000.001.181.182.392.39-3.16-3.161.271.278.698.699.129.123.193.190.280.281.761.76
10.Oil India LtdOILOil & Gas - Exploration & ProductionOil & Gas - Exploration & Production78,223.5778,223.57480.90480.9011.8211.821.271.278.738.731.131.1317.8717.871.431.4312.2112.2112.0912.092.392.390.560.562.142.14
11.Adani Total Gas LtdATGLGas DistributionGas Distribution72,329.0172,329.01657.65657.65110.30110.30-0.99-0.99-7.44-7.4426.6726.674.324.3214.8714.8714.4614.4613.8213.820.040.040.460.463.353.35
12.CESC LtdCESCPower GenerationPower Generation20,759.7620,759.76156.61156.6113.4613.46-1.91-1.91-4.91-4.910.760.76-4.17-4.171.571.5711.9611.9610.1710.173.833.831.641.642.022.02
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Disclaimer: Please note that the above table is for informational 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.

Selection criteria: Companies that are associated with the green hydrogen sector in India, based on publicly available information. Sorted based on market capitalisation.

How to Invest in Green Hydrogen Stocks?

Investing in green hydrogen shares using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in green hydrogen stocks:

  1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
  2. Search for green hydrogen stocks: Go to Tickertape Stock Screener and select “Nifty 50” under “Stock Universe”
  3. Use Filters: You can apply over 200 filters to get green hydrogen fuel stocks sorted based on criteria like market cap, P/E ratio, or dividend yield. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the top green energy shares in India.
  4. Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
  5. Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
  6. Invest Through Your Broker: Once you’ve decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.

Overview of Top Green Hydrogen Stocks in India

Reliance Industries Ltd

Founded in 1973, Reliance Industries Ltd is one of India’s largest and most diversified conglomerates. It operates in sectors such as petrochemicals, refining, retail, telecommunications, and digital services through its subsidiary Reliance Jio.

Larsen and Toubro Ltd

Established in 1938, Larsen & Toubro Ltd is a major Indian multinational operating in the engineering, construction, technology, and power sectors. L&T is known for its large-scale infrastructure projects both within India and internationally.

NTPC Ltd

Founded in 1975, NTPC Ltd is India’s largest power utility, responsible for generating electricity through its diverse portfolio of thermal, hydro, and renewable energy plants. As part of its strategy to reduce its carbon footprint, NTPC is focusing more on renewable energy sources like solar and wind power.

Adani Power Ltd

Adani Power Ltd, founded in 1996, is a significant player in India’s power generation sector. Part of the Adani Group, the company specialises in the generation of thermal power and is one of the largest private-sector electricity producers in India.

Power Grid Corporation of India Ltd

Founded in 1989, Power Grid Corporation of India Ltd is responsible for operating the largest power transmission network in India. The company ensures the reliable and efficient transmission of electricity across the country, playing a crucial role in India’s energy distribution.

Budget Allocation of Green Energy Sector in 2026-27

  1. Higher MNRE allocation: Budgetary support for renewable energy increased in 2026 27. The MNRE allocation rose to ₹329.14 bn from ₹265.49 bn last year. Solar energy received ₹305.39 bn, which includes ₹220 bn for PM Surya Ghar and ₹50 bn for PM KUSUM.
  2. Targeted support for other renewables: The Budget allocated ₹6 bn for green hydrogen. Wind and other renewable sources received ₹5.51 bn. Bioenergy received ₹2.75 bn, while green energy corridors received ₹5.99 bn to strengthen transmission infrastructure.
  3. Duty rationalisation for clean energy inputs: The government reduced customs duty to zero on sodium antimonate used in solar glass manufacturing. It also removed customs duty on capital goods used for lithium ion battery storage. These steps lower input costs across clean energy value chains.
  4. Supply chain and decarbonisation push: The Budget supported Rare Earth Corridors to strengthen clean technology supply chains. It also announced a ₹200 bn outlay for carbon capture utilisation and storage over five years to support industrial decarbonisation.

What are Green Hydrogen Stocks?

Green hydrogen stocks represent companies engaged in producing, storing, and using hydrogen made through electrolysis powered by renewable energy like solar and wind, with no carbon emissions. These green hydrogen fuel stocks often cover businesses manufacturing electrolysers, developing hydrogen plants and infrastructure, or integrating hydrogen in industries and transport.



Green Hydrogen Sector in India - An Overview

  1. Early-Stage Capacity: India had commissioned around 8,000 tonnes per annum of green hydrogen production capacity by February 2026, showing that commercial deployment is still at an early stage.
  2. 2030 Production Target: The National Green Hydrogen Mission targets at least 5 mn metric tonnes of annual green hydrogen production by 2030, supported by around 125 GW of additional renewable capacity.
  3. Production Pipeline: The government awarded 862,000 tonnes per annum of green hydrogen production capacity to 18 companies under incentive schemes by 2026.
  4. Electrolyser Manufacturing: India awarded 3,000 MW of annual electrolyser manufacturing capacity to 15 companies, backed by incentives worth ₹4,440 cr under the SIGHT programme.
  5. Industrial Demand: SECI discovered prices for supplying 724,000 tonnes per annum of green ammonia to 13 fertiliser units, creating an early demand base for green hydrogen derivatives.
  6. Mission Investment: The ₹19,744 cr National Green Hydrogen Mission expects more than ₹8 lakh cr of investment and over 6 lakh jobs by 2030.

Features of Green Hydrogen Stocks

Emerging Industry

India had commissioned around 8,000 tonnes per annum of green hydrogen capacity by February 2026, showing that the industry remains at an early commercial stage.

Broad Value Chain

Green hydrogen stocks can span renewable power, electrolysers, engineering, storage, transport and industrial gases, giving listed companies exposure to different parts of the hydrogen ecosystem.

Industrial Applications

Green hydrogen targets hard-to-decarbonise sectors such as refining, fertilisers, steel, shipping and heavy transport, where direct electrification may prove difficult or commercially less practical.

Renewable Intensive

Renewable electricity accounts for roughly 50% to 70% of green hydrogen production costs, directly linking project economics with solar, wind and power procurement costs.

Policy Driven

India’s National Green Hydrogen Mission carries an outlay of ₹19,744 cr through 2029–30, supporting production, electrolyser manufacturing, pilots, infrastructure, research and skill development.

Advantages of Investing in Green Hydrogen Stocks

Capacity Target

India aims to establish at least 5 MMT of annual green hydrogen production capacity by 2030, creating a long-term project pipeline across hydrogen-related manufacturing and infrastructure.

Electrolyser Manufacturing

The government awarded 3,000 MW of annual electrolyser manufacturing capacity to 15 companies, with ₹4,440 cr of incentives supporting domestic equipment production.

Production Pipeline

Eighteen companies received awards covering 862,000 tonnes of annual green hydrogen production capacity, indicating movement from policy targets towards identifiable commercial projects.

Ammonia Demand

Competitive bidding established supply arrangements for 724,000 tonnes per annum of green ammonia across 13 fertiliser units, creating an early source of industrial demand.

Investment Potential

The National Green Hydrogen Mission expects more than ₹8 lakh cr of investment and around 125 GW of additional renewable capacity by 2030.

Risks of Investing in Green Hydrogen Stocks

High Costs

Green hydrogen supplied to Indian refineries was priced around ₹387–₹397 per kg in 2026, highlighting the cost challenge compared with conventional fossil-based hydrogen.

Early Commercialisation

Only around 8,000 tonnes per annum of green hydrogen capacity had been commissioned by February 2026, while the 2030 target stands at 5 MMT.

Power Dependence

Green hydrogen economics depend heavily on renewable electricity prices because power can account for 50% to 70% of total production costs.

Infrastructure Gaps

Hydrogen requires specialised storage, pipelines, transport and port infrastructure. Delays in building this ecosystem can slow project commissioning and restrict commercial demand beyond initial industrial clusters.

Technology Risk

Electrolyser efficiency, durability and manufacturing costs continue evolving. Rapid technological changes can affect existing equipment economics and increase capital requirements for companies expanding production capacity.

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Factors to Consider Before Investing in Green Hydrogen Energy Stocks

Production Costs

Green hydrogen costs depend on renewable electricity tariffs, electrolyser efficiency, financing and utilisation levels. Changes in these inputs can materially affect project economics and operating margins.

Project Commissioning

The pace at which awarded capacity becomes operational influences industry revenue visibility. India had awarded 862,000 tonnes annually but commissioned only about 8,000 tonnes by February 2026.

Offtake Agreements

Long-term contracts with refineries, fertiliser plants, steelmakers or exporters influence demand certainty because green hydrogen projects often require committed buyers before reaching commercial scale.

Electrolyser Capacity

Domestic electrolyser availability affects project timelines and equipment costs. India had awarded 3,000 MW of annual manufacturing capacity across 15 companies by 2026.

Policy Support

Incentives, standards, renewable-energy rules and demand mandates shape sector economics. India’s ₹19,744 cr National Green Hydrogen Mission remains central to the industry’s development through 2029–30.

Conclusion

Green hydrogen stocks offer potential due to the increasing demand for clean energy, government support, and advancements in hydrogen production technology. However, there are risks such as high costs, dependence on government policies, and infrastructure challenges that can affect the green hydrogen share price. To make more informed investment decisions and pick the best green hydrogen stocks in India, investors can use Tickertape Stock Screener. The tool offers over 200 filters, helping you analyse stocks based on various financial and sector-specific parameters.

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Frequently Asked Questions on Green Hydrogen Stocks

  1. What are green hydrogen stocks?

    Green hydrogen stocks represent companies involved in producing, distributing or using hydrogen made with renewable energy. These businesses participate in the clean energy transition across refining, fertilisers, steel, mobility and power-related applications.

  2. How to invest in green hydrogen stocks?

    Here’s how users can explore green hydrogen stocks in India

    1. Go to the Tickertape Stock Screener
    2. Click on 'Energy Under Sector'.
    3. Analyse and sort the green energy shares using over 200+ filters, including valuation ratios, financials, technical indicators, and more, based on your investment thesis.
    4. Review the filtered list, and identify the best green hydrogen shares that align with your risk appetite, return expectations, and investment goals.
    5. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Green Hydrogen Stocks.

  3. What are some of the best green energy stocks?

    As of 6th April 2026, the following green hydrogen companies in India and broader green energy businesses rank among the largest by market capitalisation:

    1. Adani Green Energy Ltd
    2. Tata Power Company Ltd
    3. JSW Energy Ltd
    4. NHPC Ltd
    5. Indian Renewable Energy Development Agency Ltd

    Disclaimer: Please note that the above list of green hydrogen stocks India is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.

  4. What are the factors affecting green hydrogen share prices?

    Government policy, project commissioning, electrolyser costs, renewable power prices, industrial demand and technology development can influence the green hydrogen share price of companies exposed to the sector.

  5. What is the future projection of green hydrogen stocks?

    The National Green Hydrogen Mission targets 5 mn metric tonnes of annual production by 2030, supported by around 125 GW of renewable capacity. These targets may shape the long-term outlook for green hydrogen stocks in India.

  6. How to find good green energy stocks?

    Users can compare green hydrogen stocks and other green energy companies through the Tickertape Stock Screener using 200+ filters covering market capitalisation, profitability, valuations, financials and technical indicators.

    Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.

  7. Are green hydrogen stocks a good investment for the long term?

    The long-term performance of green hydrogen stocks in India depends on production costs, policy support, commercial demand, project execution and technology development. Sector growth does not guarantee similar returns across individual companies.

    Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.