New Delhi, February 25 Shares of companies related to the solar sector declined on Wednesday after the US announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar products.
The stock of Waaree Energies fell by 10.47 per cent, Premier Energies dropped by 6.27 per cent, Vikram Solar declined by 5.45 per cent, and Sterling and Wilson Renewable Energy dipped by 1.05 per cent on the BSE.
During the day, the shares of Waaree Energies fell by 14.99 per cent, Premier Energies plummeted by 14.23 per cent, Vikram Solar declined by 7.47 per cent, and Sterling and Wilson Renewable Energy dipped by 2.36 per cent.
The US has announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar products, alleging that these products are unfairly subsidized by New Delhi.
The US has also announced different duties on the imports of 'Crystalline Silicon Photovoltaic Cells, Whether or Not Assembled into Modules' from Indonesia and Laos.
"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 stated.
These duties are in addition to the 10 per cent tariffs announced by the Donald 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.
"Domestically, sentiment was dampened after the US Commerce Department imposed a preliminary duty of 126 per cent on solar imports from India, citing unfair manufacturing subsidies that enabled exporters to undercut US producers," Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
