Bengaluru, July 18 -- The shares of Waaree Energies and Premier Energies took a hit on Friday after the US Solar trade union filed a petition alleging illegal practices by Chinese-owned companies operating in India, Laos, and Indonesia. Both Waaree Energies and Premier Energies reacted negatively to the news, plunging by 1 percent and 0.8 percent, respectively.

A coalition of American solar manufacturers, known as The Alliance for American Solar Manufacturing and Trade, which includes names like First Solar Inc., Mission Solar Energy, and Qcells, has raised concerns about unfair trade practices by companies based in India, Indonesia, and Laos.

Their petition alleges that mainly Chinese-owned businesses are flooding the U.S. market with ...