Premier, Waaree Energies Shares: Impact Of Us Anti-dumping Duty; Stock Price Targets

Waaree Energies, Premier Energies: Kotak Institutional Equities successful its latest statement said nan US antidumping duties (ADs) aliases countervailing duties (CVDs) connected star imports imports, ranging from 15 per cent to 3,000 per cent, would use Indian exporters but only successful nan mean term.

It noted that preliminary duties were being successful spot since December 2024, but it was Indonesia and Laos, alternatively than India, that emerged arsenic nan cardinal beneficiaries. Domestic manufacturers person seen only constricted affirmative effect successful nan first months, it noted.   

To recall, nan US precocious imposed precocious duties connected star imports from 4 Asian countries namely Cambodia, Malaysia, Thailand and Vietnam. These tariffs are importantly steeper than nan preliminary ones implemented successful precocious 2024 and are expected to drastically trim star module and compartment imports from these countries. The imposition of AD/CVD will person a awesome impact, arsenic these 4 countries accounted for astir 80 per cent of each US star imports successful 2024. 

While these duties are apt to trim exports from these 4 countries to nan US, nan expertise of Indian manufacturers to seizure nan resulting marketplace opportunity remains key, Kotak Institutional Equities said. 

For nan first 2 months of 2025, during which preliminary measures were successful force, nan US imported 3.4 GW worthy of star modules. Of this, India supplied 446 MW, translating to astir 13 per cent of nan full demand. This marks an summation from nan 8 per cent stock reached successful 2024. That said, astir of nan proviso vacuum was filled by Indonesia and Laos, which were nan 2nd and fourth-largest module suppliers during this period. 

"Going forward, it will beryllium captious to observe which betwixt India, Laos and Indonesia will seizure nan vacuum created by nan simplification successful imports from SEA countries. On nan star compartment front, higher prices successful nan home DCR marketplace ($13-15 cents versus $10-11 cents), on pinch constricted capacity, are apt to constrain India’s publication to US star compartment imports," Kotak said.

Kotak has retained its FY2025-27 estimates for Premier Energies and Waaree Energies. It maintained its 'Sell' connected Premier Energies, pinch an unchanged adjacent worth of Rs 840. The brokerage suggested 'Reduce' connected Waaree Energies, pinch an unchanged adjacent worth of Rs 2,280.

Meanwhile, nan US management connected January 20 passed an executive bid called Unleashing American Energy, which indicated a region connected nan US IRA incentive. With nary further connection from nan management astir IRA incentives, uncertainty continues successful nan US star market. 

"Currently, US star has 52GWdc of module manufacturing capacity; hence, these higher duties could beryllium partially offset by higher section US accumulation pinch compartment proviso from players specified arsenic Qcells that look very constricted effect from these AD/CVD duties currently," Kotak said.

Published on: Apr 23, 2025 10:59 AM IST