Waaree Energies shares tumble ~8% as US suspects tariff evasion

26 Sep 2025 , 02:05 PM

Shares of Waaree Energies slipped more than 8% in Friday intraday session. This stock movement came after US customs officials stated that they were investigating the energy company over suspected tariff evasion.

US customs officials commented that their investigation is mainly to confirm if the company avoided US tariffs on Chinese-made cells and panels by putting ‘Made in India’ labels.

The American Alliance for Solar Manufacturing Trade Committee requested this investigation by sending investigation letters to the agency. The customs official communicated the matter to attorneys for Waaree Energies and the coalition about the probe.

At around 1.39 PM, Waaree Energies was trading 7.19% lower at ₹3,197.50 per share, against the previous close of ₹3,445.10 on NSE. The counter touched an intraday low of ₹3,182.

The agency expressed a reasonable suspicion that Waaree Energies didn’t tag some of its imported products, which are subject to antidumping and countervailing duties imposed for years by America on solar cells and panels made in China and other Asian nations.

The agency also noted that it was taking necessary measures to safeguard US revenues.

In its net profit for June 2025, the business recorded an 89% whopping growth at ₹745 Crore. In the previous comparable quarter, the business said that it logged a net profit of ₹394 Crore.

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