According to the best of my knowledge - please correct me if I am wrong.
Whenever the parent company Linde PLC talks about investment in India for Green hydrogen / PEM electrolyser, they are not going to do these investment through linde India.
They may do the investment through their Unlisted entity named Linde Engineering pvt limited. They have also mentioned this in the article above - very clearly and cleverly.that the investment would be done through their project engineering team.
Unfortunately , the market gets an wrong impression that linde India is a green hydrogen stock.
But in reality linde India has nothing to do with green hydrogen/ electrolyser.
Yes , Linde india may be a good stock (not sure if the valuation is justified though) because they are the market leader in all kinds of industrial Gases required by various Indian industries ( which includes Hydrogen gas) for different chemical metallurgical process and oxygen gas required by hospital and health care industry. Yes , it was a life saver during covid days.
Hydrogen currently linde India produces could be a Grey hydrogen industrial grade in small scale as per industry requirement.
By the way , we should not blindly trust MNC company in India , as most of them have a tendency of diverting all new / profitable business through unlisted entity - thanks to our Govt policy - which they take advantage of.
The link for Linde engineering pvt limited is given below
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