BHEL Rises to Day’s High on Green Hydrogen Tie-up

BHEL touched a day’s high of Rs 389.70 on NSE after signing a green hydrogen electrolyser tie-up with Thyssenkrupp Nucera India.

Here’s a simple way to think about what these machines do. An electrolyser splits water into hydrogen and oxygen using electricity, and when that electricity comes from renewable sources like solar or wind, the hydrogen produced is called green hydrogen.

It’s seen as a cleaner fuel option for industries like steel, fertilisers and heavy transport, which are otherwise hard to decarbonise.

Under this agreement, signed at BHEL’s corporate office in New Delhi, the two companies will work on building local manufacturing capability for these electrolysers in India, along with jointly bidding for green hydrogen project tenders.

The financial terms of the deal were not disclosed. This ties in with the government’s National Green Hydrogen Mission, which was approved with an outlay of Rs 19,744 crore and aims for the country to produce at least 5 million tonnes of green hydrogen a year by 2030.

Despite the tie-up, the stock didn’t hold on to its gains through the day. Capital goods stocks broadly came under pressure on Tuesday, and BHEL slipped along with the sector rather than reacting negatively to this specific announcement.

The stock closed at Rs 376.45 on NSE, down 2.85%, or Rs 11.05, from the previous close of Rs 387.50. It remains up close to 29% for the year so far.

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