Nuvama Institutional Equities has expressed a positive outlook on the green Hydrogen market in India, particularly emphasizing the potential of Waaree Energies and Reliance Industries (RIL) in this sector. The schemes introduced for electrolysers and GH2 production are anticipated to reduce the cost of GH2, making it a more feasible option for various applications. Solar Energy Corporation of India recently awarded GH2 production tenders to companies like Waaree, L&T, and RIL, facilitating the expansion of GH2 manufacturing capacities in the country. The government's commitment to the Hydrogen Mission 2030, with a substantial investment outlay for incentives related to GH2 production and electrolyser manufacturing, is poised to attract investments worth Rs 8 lakh crore under the mission. This initiative is expected to significantly drive growth and innovation in the green Hydrogen sector. Nuvama's analysis includes a positive sentiment towards the transition of companies like RIL and Waaree from grey H2 to GH2, highlighting the potential for improved margins and long-term growth. The brokerage firm has provided 'buy' ratings for Reliance Industries and Waaree Energies, with target prices of Rs 1673 and Rs 2,805, respectively, reinforcing their confidence in the future prospects of these companies. It is important for investors to consider consulting with financial advisors before making investment decisions based on this information.