Iran-Israel war: Why is Adani Ports share price in focus? — explained
Iran-Israel war: In the wake of rising geo-political tension in the Middle Eastern countries after the outbreak of the Israel-Iran war, the business of some Indian companies may be affected if the war gets prolonged. Adani Ports and Special Economic Zone Ld is one of those Indian companies. According to stock market experts, the flagship Adani group company has a high stake involved at Haifa Port in north Israel.
They said that the Iran-Israel war has put instability in the Middle East region and it may affect Adani Ports's business at the Haifa Port. They said that the war getting further prolonged may lead to affect operations of the Haifa Port in north Israel where Adani Ports has a major stake involved. So, one should remain vigilant about the latest Middle East news, especially on the Iran-Israel conflict.
They advised Adani Ports shareholders to maintain a strict stop loss at ₹1280 as the stock is trading in the ₹1280 to ₹1400 range. Advising Adani Ports shareholders to remain vigilant about the developments in the Iran-Israel conflict, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "Iran-Israel war would undoubtedly cause instability in the Middle East, and that could impact Adani Ports' business at the Haifa port. Its major concern is the security of Haifa port in northern Israel, where it has a major stake involved.
War could lead to disruptions threatening the port's operations. Shipping in the region could be disrupted due to increased military activity. This would make shipping routes less reliable and more expensive, potentially leading to a decline in cargo volumes at Haifa." Also Read: Vodafone Idea FPO opens today: Shares rise; GMP, price, other details.
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