Latest news with #BasicCustomsDuty
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Business Standard
14-05-2025
- Business
- Business Standard
Finance ministry considers 10% duty on key telecom gear amid tax disputes
Plans new product classification for items at heart of Samsung, Nokia cases Monika Yadav New Delhi Listen to This Article The Union finance ministry is considering levying a 10 per cent Basic Customs Duty (BCD) on a key category of mobile tower components through a new product classification, aiming to curb the misuse of tariff exemptions and bolster domestic manufacturing. This policy rethink comes against the backdrop of two high-profile disputes involving Samsung India and Nokia Solutions – which have claimed zero-duty benefits on the import of such items. The government, however, considers this as a case of misclassification. Earlier this year, Samsung was served a $520 million tax demand for allegedly misclassifying the imports of remote radio heads (RRHs)
Business Upturn
24-04-2025
- Business
- Business Upturn
Waaree Energies share price drops 5% as Jefferies downgrades rating to ‘underperform'
By Aman Shukla Published on April 24, 2025, 11:08 IST Shares of Waaree Energies Ltd. fell by 5% after global brokerage Jefferies downgraded the stock from 'Hold' to 'Underperform', citing near-term valuation concerns despite robust fourth-quarter earnings and optimistic FY26 guidance. As of 11:07 AM, the shares were trading 4.98% lower at Rs 2,857.50. Waaree Energies delivered an impressive Q4 performance, with revenue rising 36% YoY to ₹4,000 crore, and EBITDA surging 121% to ₹920 crore. Net profit soared 140% YoY to ₹620 crore, beating analyst estimates. Strong volume growth in the EPC segment helped offset a 22% decline in realisations, improving margins to 6.3 cents/Wp from 5.9 cents/Wp last year. Despite the downgrade, Jefferies raised its target price for Waaree Energies to ₹2,100 from ₹2,030, reflecting confidence in the company's long-term fundamentals. Management has guided for over 100% EBITDA growth in FY26, supported by expanded manufacturing capacity and increased contributions from the US market. Waaree is expanding its Indian operations to 22.5GW and doubling its US capacity, with a new 3.2GW plant expected to ramp up in H2 FY26. The company's 1.4GW PERC line is already operating at 90% utilisation. However, Jefferies highlighted risks including high US module inventories, uncertain trade policy, and the return of India's Basic Customs Duty from June 2026. Additionally, Waaree's Q4 order book declined 5% QoQ to 25.6GW. While the long-term outlook remains positive, Jefferies believes recent stock gains have priced in much of the near-term upside, prompting a cautious stance. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
