New Delhi, February 25 Shares of companies related to the solar sector plummeted on Wednesday after the US announced preliminary countervailing duties of 125.87% on imports of certain Indian solar products.
The stock of Waaree Energies fell by 14.99%, Premier Energies dropped by 14.23%, Vikram Solar declined by 7.47%, and Sterling and Wilson Renewable Energy dipped by 1.41% on the BSE.
The US has announced preliminary countervailing duties of 125.87% on imports of certain Indian solar products, alleging that the products are unfairly subsidized 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 stated.
These duties are different from the 10% 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.
