India's Waaree Energies falls after Trump's reciprocal tariffs

Waaree Energies

03/04/2025 07:30

** India's Waaree Energies WAAN.NS falls 3% to 2,205.05 rupees, set for fourth consecutive session of losses

** 54% of co's 26.5 GW order book from the U.S., as per ICICI Direct Research

** U.S. imposes 26% reciprocal tariffs on India as part of Wednesday's fresh levies

** ICICI Direct Research says WAAN set up 1.6 GW solar module manufacturing plant in U.S. this year, but not enough to cater to U.S. export demand

** Among other cos, Premier Energies PEME.NS up 1.3%, Apar Industries APAR.NS down 1.2%

** As tariffs imposed across countries, it could be a neutral event for Indian solar exporters: Vikram V, vice-president and co-group head of corporate ratings at ICRA

** WAAN down 23% YTD, while PEME and APAR down 33% and 48%, respectively

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com ;))