Solar Stocks Open Higher As Investor Sentiment Eases On US Solar Import Tariffs

Stocks of solar energy companies like Waaree Energies and Premier Energies are trading higher than their previous close, shedding the negative sentiment that gripped investors after United States President Donald Trump imposed a countervailing duty of 126 percent on imports of solar cells and modules from India.

The stock of Waaree Energies opened at Rs 2,759.95, which is 1.9 percent higher than its previous close of Rs 2,708.55. On the other hand, the stock of Premier Energies opened at Rs 735, which is 0.8 percent higher than its previous close of Rs 729.05.

However, the stock of Vikram Solar opened marginally lower at Rs 175.05, while its previous close was Rs 175.25.

During early trade, Waaree Energies was trading 1.23 percent higher at Rs 2,741.9. The stock of Premier Energies was hovering at around Rs 730.55, which is 0.21 percent higher, while Vikram Solar shed 0.66 percent to trade at around Rs 174.1.

After the solar import tariff setback on Wednesday, companies engaged in the manufacturing of solar equipment saw their valuations erode. Some stocks fell as much as 10 percent yesterday. However, experts believe that investors could have overreacted to the news, as many solar equipment companies had already started reducing exports to the US after the Trump administration began an anti-dumping probe into these products in August last year.

Other countries facing the solar tariff are Indonesia and Laos.

The US Department of Commerce held that manufacturers in these countries are receiving various subsidies from their respective governments, which is distorting the American solar market.

These import duties will operate separately from Trump’s global reciprocal tariffs, which were struck down by the US Supreme Court last week.

According to reports, the US imported solar equipment from India worth over $792.6 million in 2024. Some experts say that the decision may have a limited impact on solar exports and the related PLI scheme for the sector.