Waaree Energies recovers on US probe update
Waaree Energies's stock recovered 1.2% on Monday after the company reassured investors it's fully cooperating with US Customs over an investigation into alleged tariff evasion on solar imports.
The probe centers on whether Waaree labeled Chinese-made solar parts as Indian to dodge US trade duties, which had caused a sharp 7% drop in shares on Friday.
Waaree's response to the probe
If you're tracking clean energy or global business moves, this is big: Waaree is one of India's top solar players trying to grow in the US market.
Their quick response and focus on transparency helped calm investor nerves and contributed to a partial recovery in their share price.
Waaree's US solar push
Waaree pointed out its large Texas factory (with plans to double capacity) and its recent purchase of Meyer Burger's US assets, showing it's serious about making solar panels in America—not just importing them.