The conflict between Iran and Israel is becoming darker. On Saturday, Iran left several ballistic missiles targeting Israeli coastal city hafha. Haifa is one of Israel’s main port with Gautam Adani, the second richest man in India. Also, Haifa is a major naval headquarters in Israel. There is also an oil refinery and many chemical factories. Israel’s largest oil is in the Refinery Haifa Bay area. Iran attacked Israeli oil refinery and a naval headquarters in Haifa.
Adani Group has invested heavily in Israel. Along with the Haifa port, the group has also invested in the defense sector. Adani Group bought Israel’s Haifa port in a joint venture. The responsibility of running this port by 2054 has been entrusted to the joint venture of Adani Group. Adani Port accounts for 70 % of this joint venture and Israeli Chemical and Logistics Company Gadot accounts for 30 %. The impact can be seen on the stock of Adani Group on Monday.
Due to the increasing tensions between Israel and Iran, Adani’s investment is at risk. Investors also have an atmosphere of danger. It also had an impact on Adani Group’s stock on Friday. Adani Group’s stock of Adani Ports, which is considered a cash cow, fell more than 3% to Rs. Closed at 1396. Finally, the company’s stock was down 2.71 % to Rs. Closed at 1405.25. Similarly, shares of Adani Enterprise, the main company of the group, also fell 2.8% to Rs. Closed at 2469.55 and finally a decline of 1.36 per cent to Rs. Closed at 2505.65.
Due to the Iranian attack on the Haifa port in Israel, the shares of Adani Ports are likely to see pressure on Monday and the signal is also found by the chart. PSP Algo Indicator and PSP Gap Indicator indicated a reduction on Wednesday on a 1 -hour timeframe and since then the pores have begun to decline.
This may decrease by 1365-1385 in the short term. If this level also breaks, then it can only get a major support at the level of Rs 1300.
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