Solar power stocks gain; Websol Energy surges 9%

The government had in December ordered a safeguard duty probe on surging solar cell imports to protect domestic manufacturers after the domestic industry approached the Directorate General of Safeguards, as per reports.

Jan 09, 2018 06:01 IST India Infoline News Service

Shares of solar power companies surged after reports stated that the government had proposed 70% safeguard duty on imported solar panels and cells.

As per media reports, the government had in December ordered a safeguard duty probe on surging solar cell imports to protect domestic manufacturers after the domestic industry approached the Directorate General of Safeguards.

A safeguard duty is a temporary measure brought in for a specified period to avert any damage to the domestic industry from cheap imports, reports said.

Websol Energy System Ltd is currently trading at Rs164.05, up by Rs13.55 or 9% from its previous closing of Rs150.5 on the BSE. The scrip opened at Rs153.95 and has touched a high and low of Rs167 and Rs148 respectively.

Ujaas Energy Ltd is currently trading at Rs27.8, up by Rs0.55 or 2.02% from its previous closing of Rs27.25 on the BSE. The scrip opened at Rs27.15 and has touched a high and low of Rs28.7 and Rs26.45 respectively.

Indosolar Ltd is currently trading at Rs13.87, up by Rs0.42 or 3.12% from its previous closing of Rs13.45 on the BSE. The scrip opened at Rs13.74 and has touched a high and low of Rs14.25 and Rs12.87 respectively.

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