Waaree Energies, Premier Energies shares fall up to 4% as US launches anti-dumping duty probe

Waaree Energies, Premier Energies shares fall up to 4% as US launches anti-dumping duty probe

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26 Aug, 2025 12:21

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Shares of Waaree Energies and Premier Energies fell up to 4% on August 13 after the US Department of Commerce has initiated anti dumping and countervailing duty investigations on solar PV cell and module imports from India, Indonesia and Laos during calendar year 2024. The probe could lead to duties, impacting exports.

The decision by the Commerce Department was made after the Alliance for American Solar Manufacturing and Trade filed a petition on July 17.

The countervailing duty (CVD) petitions by the industry body is concerning imports of crystalline silicon photovoltaic (PV) cells, whether or not assembled into modules (solar cells) from India, Indonesia and Laos. The petition was also accompanied by anti-dumping duty (AD) petitions on imports of solar cells from these three countries.

At 12:25 pm, Waaree Energies shares were trading 4% lower at Rs 2,965 apiece while those of Premier Energies were trading 2% lower at Rs 997 apiece.

US Department of Commerce said it has been alleged that India is dumping at a rate of 123% and a subsidy rate of 2%.

According to the Commerce factsheet, India exported 2.29 GW of crystalline cells/modules worth $792.64 million to the US.

For the June quarter, Waaree reported a 30% growth in its revenue, while net profit nearly doubled from last year.