Waaree Energies, Premier Energies shares rally up to 5% today; here's why - Waaree Energies, Premier Energies shares rally up to 5% today; here's why BusinessToday (2025)

Shares of Waaree Energies Ltd and Premier Energies Ltd climbed up to 5 per cent in Tuesday's trade after the US trade officials reportedly finalised steep tariffs on solar cells from Southeast Asia.

As per reports, the US imposed fresh duties as high as 3,521 per cent on imports from Cambodia, Malaysia, Thailand and Vietnam after a probe that started during the former US President Joe Biden's tenure accused these four countries of benefiting from Chinese subsidies and unfair pricing that made American goods uncompetitive.

Shares of Waaree Energies climbed 5.4 per cent to hit a high of Rs 2,574.45. The stock is up 14 per cent in the past one week. Premier Energies rose 2.61 per cent to Rs 1,035. This stock is up 10.29 per cent in the past one week.

Waaree Energies is India’s largest manufacturer of solar PV modules. It has an aggregate installed capacity of 13.3 GW. The company four solar module manufacturing facilities in India, with international presence. Premier Energies, on the other hand, is an integrated solar cell and solar module manufacturing company, backed by GEF Capital, a Washington DC-based private equity investor.

Solar energy is the lowest cost energy globally at this point in time. It is expected to remain the leading low cost energy source globally, with Solar PV installed capacity anticipated to rise from 1,064 GW in 2022 to 2,733 GW by 2028, reflecting a CAGR of 14 per cent and is set to surpass natural gas by 2026 and coal by 2027, Nirmal Bang said in a note last month.

According to a Reuters report, the combined dumping and countervailing duties on Jinko Solar products from Malaysia were among the lowest at 41.56 per cent. In contrast, rival Trina Solar’s products from its operations in Thailand are facing tariffs of 375.19 per cent. Products originating from Cambodia would be subject to duties exceeding 3,500 per cent, as producers there chose not to cooperate with the U.S. investigation.

The threat of tariffs on countries that supplied more than $10 billion worth of solar products to the United States last year—making up the vast majority of domestic supplies—has triggered a dramatic shift in the global solar trade. Imports from the four targeted countries this year have dropped to a fraction of what they were a year ago, while shipments from emerging suppliers such as Laos and Indonesia are on the rise.

Published on: Apr 22, 2025 9:23 AM IST

Follow Us onChannel