Waaree Energies Share Tanks 11% Today: Here’s What Triggered The Fall

 Shares of Waaree Energies fell sharply on Friday, plunging over 11% to an intraday low of Rs 2,666 on the BSE.

The stock opened at Rs 2,855.05 and, at the time of writing, was trading at Rs 2,805.00, down 6.4% or Rs 191.70. Premier Energies also saw a steep decline, reflecting the broader negative sentiment in solar stocks.

The Trigger: US House Passes Controversial Tax Bill
The selloff was fueled by the US House of Representatives narrowly passing a controversial tax bill supported by former President Donald Trump. Passed by a 215-214 margin, the legislation proposes rolling back key elements of the Biden Administration’s Inflation Reduction Act (IRA) — a major clean energy initiative.

The bill includes the elimination of:
Grants aimed at reducing greenhouse gas emissions and air pollution
Incentives for purchasing electric heavy-duty vehicles
The 30% federal tax credit for installing rooftop solar systems

The proposed cuts have cast a shadow over global solar energy prospects and could severely impact Indian solar exporters that depend on US demand.

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Export-Heavy Order Books in Jeopardy
Waaree Energies, one of India’s largest solar companies, holds an order book of nearly Rs 47,000 crore for 25 GW of capacity, with 57% linked to international markets. Meanwhile, Premier Energies has an order book of Rs 8,400 crore for 5.3 GW, with a focus on solar modules (73%) and cells (27%) — products directly exposed to US policy changes.
 

Financials Remain Robust, but Uncertainty Looms
Despite the policy overhang, Waaree posted a 34% YoY rise in net profit to Rs 619 crore in Q1 FY26, with revenues increasing 36.4% to Rs 4,003.9 crore. Premier Energies reported an even more impressive 167% YoY jump in net profit to Rs 278 crore, on the back of a 43.8% rise in revenue to Rs 1,621 crore.

Though the tax bill still needs Senate approval, the immediate market reaction underscores investor fears of waning climate support in the US. For Indian solar manufacturers with aggressive global expansion strategies, this development could mark a critical inflection point.