Israel-Hamas war: 9 listed companies that have exposure in the region
Israel-Hamas War: The Indian companies that have exposure to Middle East economies have been on their toes for the last few days since the geopolitical tensions erupted in Israel, worried about their operations in the region and the eventual impact on companies' balance sheets. The Israel-Palastine tensions started on October 7 and kept escalating over the weekend. By Monday (October 10), it had turned into a war and the market watchers and investors were bracing for a crash in the Indian stock market.
As the Hamas attack on Israel intensified, experts started to analyse its impact on oil prices, gold prices, inflation and eventually the economy. Here are some stocks and companies that have operations in Israel and have exposure to the geopolitical tensions in Israel: Experts pointed out that some of the prominent Indian companies, such as Tata Consultancy Services, Infosys, Wipro, Adani Ports, State Bank of India, Larsen & Toubro, Bharat Forge and Sun Pharma have business operations in Israel. Adani Ports share price rose over 3 per cent in morning trade after the company said the overall contribution of Haifa in Adani Port's numbers is relatively small at 3 per cent of the total cargo volume.
Adani owns Haifa Port in Israel. Wipro share price rose almost a per cent in morning trade. Responding to a Mint query, Wipro said it has about 80 employees in Israel, all of whom are Israeli nationals.
It has advised all employees in the country to work from home until further notice and follow the safety measures put in place by the local government. On the other hand, shares of Sun Pharmaceutical declined over a per cent but recovered soon. Notably, Sun Pharma owns a majority stake in Israel’s Taro Pharmaceutical.
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