The structural transformation in the auto sector is much talked about and given credit by the street. The energy sector as a whole has also been undergoing a transformation, but quietly. Without much fanfare, the large companies in the energy space, whether in oil marketing or refining or any other, have been forming joint ventures or subsidiaries to get into New Energy areas. Did you know that a PSU company kicked off its hydrogen initiatives six months ago? The annual reports of the last few years of each of the energy sector companies provide clues about how they are working on changing the mix of sales to stay relevant.
