Solar stocks trim losses but Waaree Energies, Premier Energies end down 6-11% on US tariff concerns

Solar stocks showed signs of recovery today, trimming earlier losses, but key players Waaree Energies and Premier Energies closed the session with significant declines, down 6% and 11% respectively. The downturn was primarily driven by growing concerns over potential US tariffs, which have cast a shadow over the industry. Investors remain wary as the US government considers imposing tariffs on solar imports, which could disrupt supply chains and inflate costs. Waaree Energies responded to the market's apprehension by clarifying its position, emphasizing that the company is actively monitoring the situation and exploring strategies to mitigate potential impacts. Despite the reassurances, investor confidence appears shaken, reflecting broader uncertainties in global trade relations. The company reiterated its commitment to maintaining robust operations, regardless of external pressures, while continuing to expand its footprint in international markets. Premier Energies, meanwhile, has not yet issued a public statement, leaving analysts to speculate on its strategic response. The industry at large is bracing for potential shifts, with companies likely to reassess their supply chain dependencies and financial projections. As the situation unfolds, market participants will be closely watching for any policy announcements from the US, which could significantly influence the trajectory of solar stocks in the coming months.

— Authored by Next24 Live