Premier Energies shares fell as much as 6% in early trade, then recovered to hit a day’s high of Rs 1,096.20 on the NSE.

The scare started after the Centre eased its ALMM rules, which require power developers to use only listed domestic solar manufacturers.

Investors initially worried this could open the door to more competition from imported solar cells.

But the company’s Chief Business Officer, Vinay Rustagi, told the sources the relief only applies to one narrow segment and is ‘small in the overall scheme of things’.

He added that Premier Energies does not expect any real impact on domestic manufacturers from the change. Rustagi also shared some reassuring business updates.

He said the company’s production is already sold out for the next six months, a sign that demand at home remains strong.

Its expansion plans are also on track, with 5.6 GW of module capacity already up and running, and further growth in ingot and wafer capacity progressing on schedule.

Importantly, he said all of this is already funded, so the company won’t need to raise fresh capital. There’s also a strong earnings backdrop supporting the stock.

For the March quarter, Premier Energies posted a 64% jump in net profit to Rs 456.8 crore, while revenue grew 38% to Rs 2,230 crore.

The company closed the last financial year with an order book of 9,383 MW, worth Rs 14,010 crore, most of which is expected to be delivered over the current year.

It has also lined up capital spending of Rs 5,100 crore for this year as part of a larger Rs 12,000 crore investment plan running through FY28.

By market close, the stock had settled at Rs 1,086.40 on the NSE, up marginally by 0.02% for the day. That’s still a sharp recovery from the morning’s losses, and the stock remains close to its recent highs for the year.

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