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HomeNewsBusinessMarketsAdani Ports shares drop 2%, extend losses for 6th session amid Israel-Iran conflict

Adani Ports shares drop 2%, extend losses for 6th session amid Israel-Iran conflict

Adani Ports share price: The company had acquired a majority stake in Israel's Haifa port for a total consideration of $1.18 billion in 2023. The port is one of Israel’s major seaports.

June 18, 2025 / 15:14 IST
Adani Ports owns Haifa port in Israel

Adani Ports owns Haifa port in Israel

 
 
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The shares of Adani Ports & Special Economic Zone (APEZ) dropped around 2 percent on June 18 to trade at around Rs 1,369 apiece in the afternoon. The stock has now extended losses to the sixth consecutive session as investors remain concerned about the potential threat to its key port in Israel amid the ongoing conflict in the Middle East.

The war between Israel and Iran entered its sixth day today, with multiple missiles continuing to be shot by the two nations at each other. Since the outbreak of the hostilities last week, Iran has fired more than 400 missiles and launched hundreds of drones at Israel. According to a statement from Israeli Prime Minister Benjamin Netanyahu's office, the increased attacks have killed 24 people so far, injured over 800 and forced more than 3,800 residents to evacuate from vulnerable areas.

Adani Ports owns a majority stake in Haifa Port in Israel. The company had acquired the port for a total consideration of $1.18 billion in 2023. The port is one of Israel’s major seaports.

Iran had targeted the Haifa port and a nearby oil refinery during the weekend. However, Adani Group CFO clarified that Adani's port was not impacted by the conflict.

Shrapnels fell in the chemical terminal at the port and some other projectiles fell at the oil refinery, two sources aware of the matter said. They claimed there were no injuries.

A piece of interceptor shrapnel was also found at the Kishan West (Haifa port) but there were no injuries, they said. Cargo operations at the Adani-operated port were unhampered.

While the port so far remains unhampered, the rising hostilities raise investors' concerns over the possible disruption in case Iran strikes the port.

Adani Ports shares have declined over 6 percent in the past five days. The stock however has gained more than 13 percent in the past six months. It however fell 5 percent in the past one year. Over 14 lakh shares of the company have been involved in active trade today, according to data on NSE at 2.30 pm. The stock has a P/E ratio of 27.

Moneycontrol News
first published: Jun 18, 2025 03:14 pm

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