So PSU and Energy Utilities are best bet based on current PE and egregious valuations of small cap companies.

reasonable valuations and growth visibility. etc.

Tata Motors Demerger: Tata To Spin Off Car, Truck Units Into Separate Listed Companies

Maruti usually commanded good premium Vs tata coz it was a pure PV play. Now it would be a Institutional pro move as many wanted to invest in PV vs CV. 70% EV market share.

Demand for CV is also expanding – new road getting constructed – Scrapage policy – CV demands would come for sure. Strong Number 1 in CV (TAMO)

Jindal would produce Green hydrogen for 100% captive consumption to produce green steel.

In steel industry , Hydrogen is required in Direct reduction of Iron ore ( DRI)-
By reacting hydrogen directly with iron ore, iron and water are produced in place of iron and CO2.

For producing stainless steel – hydrogen is used in a heat treatment process called annealing.

The pact between JSL and Hygenco also marks the first-ever commercial long-term offtake agreement of green hydrogen in India,

In the first phase , all others are planning producing green hydrogen under EPC to meet their captive needs. commercial sale in massive scale is yet to be started.

First of all these companies are using / consuming grey Hydrogen and they need to decarbonise first before they make any commercial sale to others.

you may please go through this article.

https://indianexpress.com/article/business/companies/jindal-group-jsl-installs-indian-stainless-steel-sector-first-green-hydrogen-plant-hygenco-india-9194920/

But @1957 om …where are the opportunities ?
while most of small-midcap names i follow are taking cut here and there since last 1 month…some PSUs i follow have fairly ran ahead in last 1 month.most of these PSU, i think, ran on the defence and hydrogen story.
What is left ? Ports & infra ?

Valuations justified – No.

Any moat – No

But its in the Hot sector…so