Indian Stocks That May See An Impact Of Israel-Hamas War; Do You Own Any?
Besides IT majors like Wipro, Tech Mahindra and Infosys, State Bank of India (SBI) and Larsen & Toubro (L&T) also have a presence in Israel. Israel-Hamas War: A surprise attack by Iran-backed Hamas, a Palestinian militant group, in the past weekend, has re-ignited geopolitical tensions and sent oil prices surging. However, the Indian equity markets remained resilient on Monday without witnessing any panic sell-offs. The Israel-Hamas conflict has brought huge uncertainty towards various Indian companies that have operations in Israel or are otherwise exposed to the war-hit country. Adani Ports, which operates the Haifa port in Israel is also under pressure, with the stock falling nearly 5 percent on October 9. The Gautam Adani-led group firm said it is closely monitoring the action on ground and is prepared with a business continuity plan. The overall contribution of Haifa in APSEZ’s numbers is relatively small at 3 per cent of the total cargo volume. Shares of Sun Pharmace...