Shares of leading solar energy companies such as Waaree Energies, Premier Energies, and Vikram Solar witnessed sharp declines in early trade after the United States announced preliminary duties of 126% on solar imports from India. The decision comes after the US administration determined that Indian manufacturers were benefiting from what it described as “unfairly subsidised manufacturing.”
Waaree Energies’ stock fell more than 10%, while Premier Energies slipped nearly 5% during trading.