Waaree Energies Premier Energies shares tank over 14 pc

New Delhi, Feb 25 (PTI) Shares of companies related to solar sector tumbled on Wednesday after the US announced preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods.
     The stock of Waaree Energies tumbled 14.99 per cent, Premier Energies tanked 14.23 per cent, Vikram Solar dived 7.47 per cent and Sterling and Wilson Renewable Energy dipped 1.41 per cent on the BSE.
     The US has announced preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods alleging that the products are unfairly subsidised by New Delhi.
    "On February 24, 2026, the US Department of Commerce announced its preliminary affirmative determinations in the countervailing duty investigations of crystalline silicon photovoltaic cells, whether or not assembled into modules (solar cells), from India, Indonesia, and the Lao People's Democratic Republic (Laos)," a US order has said.
     These duties are different from the 10 per cent tariffs announced by the Trump-administration on all countries from February 24.
     According to the order, solar imports from India into the US increased to USD 792.6 million in 2024 from USD 83.86 million in 2022.

(This story has not been edited by THE WEEK and is auto-generated from PTI)