Waaree Energies shares slip 5% as US initiates anti-dumping probe 

Shares of Waaree Energies fell nearly 5% today after the US Department of Commerce initiated antidumping duty and countervailing duty investigations of crystalline silicon photovoltaic cells, whether or not there are assembled into modules (solar cells) from India, Indonesia, and the People’s Democratic Republic (Laos).

The shares of solar panel maker Waaree Energies slipped 4.68% on Wednesday to Rs 2939.80 against the previous close of Rs 3084.30. The market cap of the firm stood at Rs 85,136 crore .

Total 1.44 lakh shares of the firm changed hands amounting to a turnover of Rs 42.77 
crore on BSE.

A  note on the US Commerce Department website says India has been dumping solar cells into the US with a margin of 123% and a subsidy rate of 2%.

The US Department of Commerce said the preliminary findings of the probe into Indian solar cell imports will be published on September 2, 2025.

In the June quarter, Waaree clocked a 30% rise in its revenue, while net profit nearly doubled from last year.

Waaree recorded order inflow of nearly 2.23 GW during the quarter, with most of it from a customer based out of the US.

Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.