New Delhi, June 30 -- Waaree Energies Ltd shares lost 4% on Monday after US Customs and Border Protection (CBP) ruled that the solar cell and module manufacturer evaded tariffs applicable on modules imported into the US made from photovoltaic cells from Vietnam and Malaysia from 2021 to 2026.

Waaree now needs to pay a tariff of about 2.7 times on the specific imports, though the exact quantum of duties hasn't been finalized. Waaree has the option to seek administrative and judicial review.

For Waaree, this is the second adverse US policy action this year. In April, the US imposed an anti-dumping duty of 123% on solar imports from India and other countries. The duty is on a preliminary basis, and a final decision is expected by mid-July....