Overview
- U.S. Department of Commerce issued preliminary affirmative countervailing‑duty findings near 126% on Indian solar imports on February 24.
- Indian solar stocks rebounded in early trade a day after sharp losses, with Waaree Energies and Premier Energies opening higher as sentiment steadied.
- Motilal Oswal, Nuvama and Emkay reiterated constructive views on Waaree, citing non‑Indian cell sourcing for U.S. sales, diversified supply chains and an expanding U.S. footprint.
- Brokerage notes highlight Waaree’s U.S. module capacity at 2.6 GW, expected to rise toward about 4.2 GW by mid‑2026, and management guidance of no material margin impact so far.
- Waaree reported a one‑time 500 MW solar‑module supply order for FY2026‑27 and a SECI award to develop a 300 MW wind project in Dwarka under a 25‑year PPA, even as duty outcomes remain uncertain.