Waaree powers partake price dropped over 10 percent in the last two trading sessions amid fears of a decline in renewable energy exports to the United States during the administration of Donald Trump. The impact could be severe on companies that are heavily reliant on the US for the exports.
Waaree powers stock declined nearly 5 percent on November 8 to quotation at Rs 3,186 per share on the NSE. After the two days of decline, the company’s total request capitalization has declined to Rs 93,213.34 crore from an earlier over Rs 1 lakh crore.
The Waaree powers scrip slipped into the red on November 7, falling as much as 8 percent. The profit- booking comes following a astral debut on the bourses and sustained buying later which redounded in a massive 150 percent gain from its issue price.
On October 28, the shares were listed at Rs 2,500 on the NSE, a decoration of 66.33 percent against the issue price of Rs 1,503.
President- elect Donald Trump, in his palm speech, mentioned that he’d stop renewable systems on “ day one ” of his office. presently, several large Indian enterprises export solar modules to the US, and new protectionist programs could add challenges, also because India significances a significant portion of its solar cells from China.
