Waaree Energies US exports were in focus on Wednesday after Indian solar stocks fell sharply in early trade due to new US import duties. However, shares recovered later after the company clarified the impact of the decision.
The US Commerce Department has announced preliminary countervailing duties of around 126% on solar cell and panel imports from India. This news created panic in the market and solar stocks dropped in the morning session.
Waaree Energies Share Price Update
Waaree Energies shares were down nearly 10.6% at ₹2,701.9 around 10:30 AM. The stock had earlier hit its lower circuit but later recovered from the day’s low.
Premier Energies shares also reduced losses and were trading about 4.9% lower.
What Did Waaree Energies Say?
In an interview with Zee Business, company Chairman Hitesh Doshi explained that the US duties apply only to solar cells made in India, not to solar panels assembled in India using imported cells.
He said most Indian companies import solar cells from other countries where duties are low. They then assemble solar panels in India and export them. Because of this, the impact on Waaree Energies US exports will be limited.
Doshi also said that only about 4% of US solar imports were panels made using India-made solar cells. This means the overall export impact may be around 600–1,000 megawatts. He added that Waaree Energies does not export panels made from India-made cells and has no such plans right now due to strong demand in India.
Other Solar Stocks Performance
Some solar stocks showed mixed movement:
- Borosil Renewables shares rose 2.6%.
- Sterling and Wilson Renewable Energy traded slightly higher.
- Servotech Renewable Power System also saw small gains.
On the other hand:
- Solex Energy fell more than 6%.
- Vikram Solar declined about 4.5%.
- Waaree Renewable Technologies was down nearly 4%.
What’s Next?
The US decision is only the first step in the trade case. Another ruling related to dumping charges is expected next month.
For now, investors are cautious. But after the clarification, fears about a big impact on Waaree Energies US exports have reduced, helping solar stocks recover from early losses.
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