Waaree Energies, Adani Green Energy, Kaynes Technology etc lose favour over Trump’s protectionist policies

President-elect Donald Trump, in his victory speech, mentioned that he would stop renewable projects on “day one” of his office. Currently, several large Indian firms export solar modules to the US, and new protectionist policies could add challenges, also because India imports a significant portion of its solar cells from China.

Waaree Energies share 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 presidency of Donald Trump. The impact could be severe on companies that are heavily reliant on the US for the exports, moneycontrol reported.

This had a severe rub-off effect on other renewable energy stocks as well with Adani Green Energy falling over 1 percent, Kaynes Technology dropped 1 percent, Olectra Greentech, Websol Energy among others also traded in the red.

“This shift could impact Indian exporters of solar and renewable energy equipment,” he says while predicting that the major effects will be felt over the medium term, within three to four years, though “the short-term impact is expected to be minimal,” Rupesh Sankhe, Senior Analyst at Elara Capital told Moneycontrol.