Premier, Waaree Energies Shares Rise Nearly 8% After US Tariffs On Southeast Asia Solar Imports

Shares of Premier Energies Ltd. and Waaree Energies Ltd. rose on Tuesday after the US imposed anti-dumping duty as high as 3,521% on solar imports from four Southeast Asian countries.

Premier Energies stock rose as much as 7.98% to Rs 1,090, the highest level since Feb. 4, while shares of Waaree Energies were up 7.56% to Rs 2,629 apiece, the highest level since Jan. 22. Premier Energies shares have risen over 26.06% in the last eight sessions, and Waaree Energies' have been up 24.18%.

The new duties have been imposed on imports from Cambodia, Vietnam, Malaysia and Thailand. This was after the conclusion of a year-long trade probe that began during the tenure of former US President Joe Biden. The investigation was requested by solar manufacturers in the US.

The levies will be in addition to new widespread tariffs imposed by US President Donald Trump that have upended global supply chains and markets.

According to the probe, these four countries were unfairly benefiting from government subsidiaries and selling exports to the US at rates lower than the cost of production. The antidumping duties are designed to offset the value of alleged unfair subsidisation and pricing that is calculated by the US Commerce Department.

Countrywide duties have been set as high as 3,521% for Cambodia, following the country’s withdrawal from the investigation, the US Commerce Department said.

For companies in Vietnam not individually named in the probe, duties could reach up to 395.9%, while Thailand faces a rate of 375.2%. Malaysia’s country-wide rate stands at 34.4%.

Among individual companies, Jinko Solar was hit with duties of around 245% for exports from Vietnam and 40% for those from Malaysia. Trina Solar faces tariffs of 375% on shipments from Thailand and over 200% from Vietnam. JA Solar’s modules exported from Vietnam may be subject to duties of approximately 120%.