Why Waaree & Premier Energies Are Under Pressure | Brokerages Turn Cautious

Solar manufacturing stocks Waaree Energies and Premier Energies came under pressure, falling around 6–7%, after brokerage reports flagged near-term risks for the sector. Brokerages cited slower tendering activity despite strong solar capacity additions, leading to oversupply in the domestic market.

Kotak highlighted that India added 27.22 GW of solar capacity in the last eight months, but manufacturing capacity has overshot demand. This has resulted in a 6–8% quarter-on-quarter decline in module and cell prices, impacting margins. As a result, Kotak reduced its price targets and cut earnings estimates for Waaree Energies and Premier Energies, including a 6% EPS cut for Premier Energies.

Bernstein also remained cautious on the sector, maintaining an underperform rating on both stocks. The brokerage warned that renewable energy additions could slow in FY27, government incentives may be scaled back, and grid constraints could limit execution. According to Bernstein, renewable stocks are expected to perform broadly in line with the market rather than outperform.

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