Shares of Waaree Energies and Premier Energies came under sharp selling pressure on Wednesday after the US administration announced steep preliminary countervailing duties of 126 per cent on certain solar imports from India.
Waaree Energies ended 10 per cent lower at ₹2,708.55 on the BSE after hitting an intraday low of ₹2,571.45 (lower by 15 per cent), against its previous close of ₹3,025.20.
Premier Energies settled 6 per cent lower at ₹729.05 compared with ₹777.80 earlier, after slipping to a low of ₹667.05 during the session. The move sent shockwaves through renewable energy counters, amid concerns over export prospects and revenue growth.
In a stock exchange clarification, Waaree Energies said the matter remains subject to ongoing proceedings, with the final outcome expected over the next few months. Referring to the preliminary 126 per cent duty flagged in recent media reports by the US Department of Commerce, the company said it had continued to ramp up deliveries for US shipments during 9MFY26 despite the earlier imposition of a 50 per cent duty. This, it said, was enabled by alternate and diversified supply chains developed over the years.
Waaree Energies added that its diversified sourcing strategy remains a core strength, including announced investments in Oman aimed at securing fully traceable, non-Chinese polysilicon supply. The company has also been strengthening its US-based manufacturing footprint, with aggregate module capacity of about 2.6 GW, including capacity acquired through the Meyer Burger facility, and plans to scale this up to around 4.2 GW by the end of FY27. Based on its current order book and internal assessments, it does not anticipate any material adverse impact on its ability to service US commitments.
Premier Energies, in its response, said the developments were industry-wide and not specific to the company. It clarified that it does not foresee any material adverse impact on its operations or financial position arising solely from the referenced news item, while continuing to monitor regulatory and market developments.
Published on February 25, 2026