US begins probe against these Indian companies, shares fall, the companies are....
Shares of Waaree Energies Limited and Premier Energies Limited were in focus on Wednesday, August 13 after Waaree Energies' stock fell by up to 5 per cent, dropping to Rs. 2,957.70, and Premier Energies' stock slipped by about 2 per cent to Rs. 996.20. The fall came after the US Department of Commerce has started an anti-dumping duty investigation, which has worried investors. Fears that such a duty might be imposed have put pressure on both stocks. What's anti-dumping duty investigation?
The investigation is about the solar products these companies sell in the US market. Authorities want to check if they are being exported at prices lower than the actual cost, which could harm local US companies. The US Department of Commerce has started an anti-dumping duty and countervailing duty probe on crystalline silicon photovoltaic (CSPV) cells whether they are shipped as standalone solar cells or assembled into modules from India, Indonesia, and Laos. Dependence on the US market
According to the US Department of Commerce website, India is allegedly 'dumping' solar cells in the US at a margin of 123 per cent and receiving a subsidy rate of 2 per cent. The department's preliminary findings on Indian solar cell imports will be released on September 2, 2025.
At the end of the June quarter, Waaree Energies had an order book worth Rs. 49,000 crore for 25 gigawatts, with exports making up 41.3 per cent of the total. During the quarter, Waaree received orders for about 2.23 gigawatts, most of them from US-based clients.
Premier Energies, however, has less exposure to the US market and is more focused on domestic sales.
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