- Premier Energies shares gained attention after US announced preliminary antidumping duties on solar imports.
- US Commerce Department set preliminary duty rates of 123.04% for India, 35.17% for Indonesia, 22.46% for Laos.
- Tariffs target solar cells and panels imported from India, Indonesia, and Laos
Shares of Premier Energies Ltd are in focus on Friday, affter reports of the US Commerce Department announcing preliminary antidumping duties on solar cells and panels imported from India, Indonesia and Laos surfaced. This marks the latest set of tariffs imposed over a decade on solar imports from Asia.
Waaree Energies shares have rebounded around 6% from early trade, and are trading 0.95% higher at Rs 1,010.20 apiece as of 10:10 am. The stock has seen gains of 20.03% year-to-date.
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In a fact sheet posted on the Commerce Department's website, the agency estimated preliminary duty rates, also known as dumping margins, which is around 123.04% for Indian imports, 35.17% for imports from Indonesia, and 22.46% for imports from Laos.
With the latest move, federal trade officials supported domestic solar factory owners in finding that companies operating in the three countries dumped cheap goods in the American market, Reuters reported.
Last year, these three countries accounted for $4.5 billion in US solar imports, nearly two-thirds of the total, according to government trade data.
ALSO READ: US Announces Preliminary Antidumping Duties On Solar Imports From India, Indonesia, Laos
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