On Wednesday, February 25, after the Trump administration set preliminary duties of 126% on solar imports from India, Shares of Waaree Energies Ltd., Premier Energies Ltd., and Vikram Solar Ltd. fell up to 15%
Waaree Energies shares slid as much as 14.6 percent to Rs 2,580.5 by around 9:30 am, deepening losses after hitting the lower circuit earlier in the session. Premier Energies stock was down over 12 percent at Rs 681.3, extending its decline from the opening bell.
According to the US Commerce Department, the solar imports from India in 2024 were worth $792.6 million, over 9 times the value in 2022.
The relatively high duty rates will make the US market largely unavailable for Indian solar panel manufactures, Citi analyst Vikram Bagri wrote in an research note Tuesday.
