Waaree Energies, Premier Energies, SW Solar shares fall up to 4% as US firms request tariffs on imports from India

Waaree Energies, Premier Energies, SW Solar shares fall up to 4% as US firms request tariffs on imports from India

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26 Aug, 2025 12:21

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The shares of Indian solar module manufacturers dropped in trade on July 18, after their US peers filed new trade petitions against India, Indonesia and Laos, seeking more anti-dumping and countervailing duties on the imports to US.

The Alliance for American Solar Manufacturing and Trade accused these companies of dumping cheap goods in the market to undercut new American factories. The group includes Tempe, Arizona-based First Solar, Qcells, the solar division of Korea's Hanwha, and private companies Talon PV and Mission Solar.

The American firms have accused their foreign rivals of receiving unfair government subsidies and selling their products below the cost of production in US, hampering the home-grown companies there.

"We have always said, vigorous enforcement of our trade laws is critical to the success of this industry," Tim Brightbill, lead attorney for the petitioners, said in a statement.

Notably, most of the solar panels installed in US are made overseas. Indian solar panel makers derive a major portion of their revenue from US exports. If the petitions are accepted, the margins of these Indian players may be hampered.

Waaree Energies shares dropped around 2.5 percent to trade at Rs 3,127 apiece. Premier Energies shares meanwhile fell nearly 1.4 percent to trade at Rs 1,065 apiece.

Sterling and Wilson Renewable Energy (SW Solar) shares meanwhile tumbled over 4 percent to trade at Rs 321 apiece. Notably, this comes a day after the company released its results for the first quarter of the financial year 2026.

SW Solar had reported a net profit of Rs 31 crore for Q1 FY26, marking a multi fold jump from the Rs 4 crore net profit reported in the corresponding quarter of the previous financial year. Revenue from operations also more than doubled in a year to Rs 1,762 crore.

(With inputs from Reuters)

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