Solar Stocks Tumble as US Imposes 125.87% Duty on Indian Solar Goods

• Shares of Waaree Energies, Premier Energies, Vikram Solar, and Sterling and Wilson Renewable Energy tumbled.
• The US announced a preliminary countervailing duty of 125.87 percent on certain Indian solar goods.
• The US alleges these products are unfairly subsidized by New Delhi.
• Duties also announced on imports of 'Crystalline Silicon Photovoltaic Cells' from Indonesia and Laos.
• Solar imports from India into the US surged to USD 792.6 million in 2024 from USD 83.86 million in 2022.