Waaree Energies, Premier Energies, other solar stocks fall up to 15% today; here’s why
According to ITA import statistics, the volume of Indian solar exports to the US surged from roughly 232.42 million watts in 2022 to over 2.04 billion watts in 2023, and eventually to nearly 2.29 billion watts in 2024.
- Feb 25, 2026,
- Updated Feb 25, 2026 11:16 AM IST
Shares of solar stocks such as Waaree Energies Ltd, Premier Energies Ltd and others declined up to 15% in Wednesday’s trade after the United States government moved to set preliminary duties of 126% on solar imports from India.
Leading the pack, shares of Waaree Energies plunged as much as 15% in early trade, hitting a day’s low of Rs 2,571.45 on the BSE, a sharp drop from its previous close of Rs 3,025.20.
At last check, Premier Energies shares were trading 10.48% lower at Rs 696.25 apiece, down from a previous close of Rs 777.80. Vikram Solar stock dipped 6.26% to Rs 173.75 apiece.
The Trigger
According to the International Trade Administration (ITA) data, the US Department of Commerce announced its ‘preliminary affirmative determinations’ on February 24, 2026, regarding countervailing duty (CVD) investigations.
According to ITA, it targeted crystalline silicon photovoltaic cells from India, Indonesia, and Laos, regardless of whether they were assembled into modules.
For Indian exporters, the US Commerce Department set preliminary levies of 125.87% for all solar producers. Beyond India's borders, the department also set initial levies of up to 143.30% for Indonesia and 80.67% for Laos.
The hefty tariffs come on the back of a massive surge in Indian solar imports to the US over the last three years. According to ITA import statistics, the volume of Indian solar exports to the US surged from roughly 232.42 million watts in 2022 to over 2.04 billion watts in 2023, and eventually to nearly 2.29 billion watts in 2024. In dollar terms, the value of these shipments leapt from $83.86 million in 2022 to a staggering $760.75 million in 2023, and peaked at $792.64 million in 2024.
According to the company's Q3 FY26 investor presentation, Waaree recently delivered its highest-ever quarterly revenue from operations at Rs 7,565 crore, marking a massive 118.8% year-on-year growth. The solar giant also reported a 118.4% jump in profit after tax (PAT) to Rs 1,106 crore.
Furthermore, the company is sitting on a record order book of approximately Rs 60,000 crore. The company also inaugurated a 1.6 GW module manufacturing facility right in the US, the company said.
Shares of solar stocks such as Waaree Energies Ltd, Premier Energies Ltd and others declined up to 15% in Wednesday’s trade after the United States government moved to set preliminary duties of 126% on solar imports from India.
Leading the pack, shares of Waaree Energies plunged as much as 15% in early trade, hitting a day’s low of Rs 2,571.45 on the BSE, a sharp drop from its previous close of Rs 3,025.20.
At last check, Premier Energies shares were trading 10.48% lower at Rs 696.25 apiece, down from a previous close of Rs 777.80. Vikram Solar stock dipped 6.26% to Rs 173.75 apiece.
The Trigger
According to the International Trade Administration (ITA) data, the US Department of Commerce announced its ‘preliminary affirmative determinations’ on February 24, 2026, regarding countervailing duty (CVD) investigations.
According to ITA, it targeted crystalline silicon photovoltaic cells from India, Indonesia, and Laos, regardless of whether they were assembled into modules.
For Indian exporters, the US Commerce Department set preliminary levies of 125.87% for all solar producers. Beyond India's borders, the department also set initial levies of up to 143.30% for Indonesia and 80.67% for Laos.
The hefty tariffs come on the back of a massive surge in Indian solar imports to the US over the last three years. According to ITA import statistics, the volume of Indian solar exports to the US surged from roughly 232.42 million watts in 2022 to over 2.04 billion watts in 2023, and eventually to nearly 2.29 billion watts in 2024. In dollar terms, the value of these shipments leapt from $83.86 million in 2022 to a staggering $760.75 million in 2023, and peaked at $792.64 million in 2024.
According to the company's Q3 FY26 investor presentation, Waaree recently delivered its highest-ever quarterly revenue from operations at Rs 7,565 crore, marking a massive 118.8% year-on-year growth. The solar giant also reported a 118.4% jump in profit after tax (PAT) to Rs 1,106 crore.
Furthermore, the company is sitting on a record order book of approximately Rs 60,000 crore. The company also inaugurated a 1.6 GW module manufacturing facility right in the US, the company said.