Adani Shares Trade Low As Tensions Between Israel And Palestine Escalate – News18

The share prices of Adani Group declined on Monday, October 9. This happened as the Indian equity market was dominated by adverse sentiment, after the Israel-Palestine war. The shares of the Adani group which includes Adani Enterprises, Adani Ports, and Adani Power, closed in the red. The financial repercussions of the recent attack on Israel by the terrorist organisation Hamas were felt strongly, as the shares of Adani Group company Adani Ports and Special Economic Zone Limited (Adani Ports and SEZ Ltd) have declined.

Shares of Adani Port opened in the red on Monday. At the end of trading, it closed at Rs 788.50 on the National Stock Exchange with a fall of 5.09 per cent. On Friday, the stocks of Adani Ports had closed at Rs 830.75. Adani Ports shares have risen 20 per cent in the last six months. So far in the year 2023, this stock has fallen by four per cent.

In Israel, Haifa Port is run by Adani Ports. The Adani group had just secured the $1.2 billion tender to run this crucial port strategically at the start of the year. The Port of Haifa is the second largest port in Israel, in terms of shipping containers. All of the staff working at Haifa Port are safe, according to a statement from Adani Ports, which also noted that it is keeping an eye on the situation. “We are monitoring the situation on the ground,” the company stated.

While Haifa Port is in the north, there is currently conflict in southern Israel. According to a statement from Adani Ports and SEZ Limited, “We have taken steps to ensure the safety of our employees and they are all safe.” The statement claims that Haifa Port barely contributes 3% of the SEZ’s overall revenue.