Israel-Hamas War: Adani Ports’ problems increased due to Israel-Hamas war, stock fell the most in Nifty index

Israel-Hamas War: Adani Ports’ problems increased due to Israel-Hamas war, stock fell the most in Nifty index

Israel-Hamas War Update: The war continues between Israel and Hamas. Due to this war, there is a huge decline in the stock markets around the world, which also includes the Indian market. But due to this war, the stock of Gautam Adani’s listed company Adani Ports & Special Economic Zone has also fallen flat. The share of Adani Ports is trading with a huge fall of 4.50 percent and the stock has slipped below Rs 800.  

Why Adani Ports stock fell

The shares of Adani Ports and Special Economic Zone have also been affected by the war between Israel and Hamas. Because Haifa Port in Israel is owned by Adani Ports. From the previous closing price level of Rs 830.75, the stock of Adani Ports has fallen by Rs 793 i.e. about Rs 37 or 4.54 percent in Monday’s trading session. The biggest decline has been seen in the stock of Adani Ports in the Nifty index of the National Stock Exchange.  

Operation of Haifa Port may be affected 

Business is likely to be affected due to the ongoing fierce war between Israel and Hamas. So, due to this war, the operation of Israeli ports may be affected, which also includes the operation of Adani Ports of Haifa Ports. Due to this, there has been a big fall in the shares of Adani Ports. Adani Ports operates Haifa Port in northern Israel in collaboration with a local company. This year in January 2023, Adani Ports bought Haifa Port for $1.2 billion. Haifa Port is the main port of Israel through which 99 percent of the goods are brought or sent outside or inside the country by sea route. 

Adani Group’s troubles are not ending!

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