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Mint
2 days ago
- Business
- Mint
Is the Israel-Iran war a billion-dollar threat to Adani Ports & SEZ?
The world is once again on the brink. With the war in Ukraine still raging and unrest simmering across the Middle East, a new conflict has plunged global geopolitics into deeper uncertainty. A few days ago, tension between India and Pakistan flared up after 26 people were killed in a terrorist attack in Pahalgam. India launched Operation Sindor, which targeted terrorist camps across the Line of Control. For a brief moment, there was a serious apprehension that both India and Pakistan could go to war. But both sides agreed to a ceasefire, which reduced stress. Also Read: Is India's premium at risk? As Israel-Iran conflict sparks FPI outflows, valuation debate rages But cool in South Asia has been affected by a more explosive conflict in the Middle East. On 13 June 2025, Israel launched a military campaign against Iran, targeting major military and nuclear sites. Since then, the Israel-Iran conflict has entered its fourth day, with no signs of de-escalation. Overnight missile exchanges have intensified, with Iran striking an Israeli oil refinery and crippling parts of its power grid. In this geopolitical storm, Adani Ports and Special Economic Zone (APSEZ) Ltd has emerged as a company of keen interest on Dalal Street. APSEZ is the largest commercial ports operator in India, accounting for nearly one-fourth of the country's cargo movement. It has a presence in 13 domestic ports in seven maritime states: Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha. Through its subsidiary Adani Logistics, APSEZ operates three logistics parks located at Patli in Haryana, Kila-Raipur in Punjab, and Kishangarh in Rajasthan. The company is engaged in developing, operating, and maintaining ports, developing ports-related infrastructure, and developing infrastructure in special economic zones. On 16 June 2025, shares of APSEZ were in focus amid the ongoing conflict between Israel and Iran. Some reports suggested that the conflict between the two countries caused damage to the Haifa port in Israel. Late on Saturday night, tensions in the Middle East escalated further as Iran fired missiles at Israel's Haifa port and a nearby oil refinery. Debris from the attack reportedly landed in the chemical terminal of the port, while other projectiles hit the oil refinery. Also Read: Dull summer casts a cloud on Voltas's air conditioner volumes in Q1 While the incident raised immediate concerns, especially for Adani Group's operations in the region, media reports state the Adani-operated section of the Haifa port was not impacted. However, Jugeshinder Robbie Singh, the Adani Group CFO, refuted the reports and said the damage reports were false. News agencyPTIreported on Sunday that the group's port was unaffected. Despite the tense situation, it's business as usual at the port for now. As per reports, eight ships remained docked and cargo handling continued smoothly. Operations stayed on track, with no damage reported to infrastructure or logistics. For now, Adani's key international port remains safe, even as the region braces for what comes next. Adani Ports' stake in the Haifa port In 2023, the Adani Group made a high-profile international expansion by acquiring a 70% stake in Israel's Haifa port for $1.2 billion, in partnership with Israel's Gadot Group, which holds the remaining 30%. The joint venture is set to operate the strategic port until 2054. Haifa serves as a vital maritime gateway for Israel, handling more than 30% of the country's imports. While it contributes nearly 5% to APSEZ's revenue, it accounts for less than 2% of the total cargo volume managed by the company. APSEZ, which handles around 10.57 million tonnes of cargo overall, has always positioned Haifa as a long-term strategic asset rather than a volume play. However, the recent escalation in the Israel-Iran conflict has cast a shadow over the investment. The fear is that ongoing hostilities could delay cargo movements at Haifa and potentially disrupt global shipping routes. The impact was already visible in the market on Friday. Shares of Adani Ports—one of the group's most profitable businesses dropped more than 3% intraday to ₹1,396 before recovering slightly to close at ₹1,405.25, a 2.71% decline. Also Read: Municipal bodies still shun public bond issues. There's a lot that's holding them back While Haifa may represent a small portion of the group's operations, the geopolitical risk it carries now looms large. What if Adani's Haifa port takes a hit? At the moment, Adani's Haifa port is still up and running, with cargo ships docked and operations going on as usual. But there's a growing sense of unease. What happens if things take a turn for the worse? If the port were to suffer serious damage, the impact on Adani Ports could be significant. Early estimates suggest losses could range between $1.9 bn and $2.9 bn. That includes the original $840 million (m) poured into the deal, around $50-100 m in annual revenue, and a potential hit of $1-2 bn in market value. The longer the conflict continues, the more uncertain the returns on Adani's overseas bet become, raising the question of whether this bold global expansion will deliver long-term gains or turn into an expensive mistake. Scaling up Vizhinjam APSEZ is set to invest ₹13,000 crore to expand the Vizhinjam International Deepwater Seaport in Kerala's Thiruvananthapuram. This next phase of growth, fully self-funded, comes on the back of successful trial runs and growing demand. The port is already operating at 90% capacity, having handled 280 ships and 620,000 TEUs since trial operations began in June 2024. With an initial ₹7,000 crore already invested, the port's expansion is aimed at keeping up with rising transhipment traffic and unlocking its full potential. 3x global operations by 2030 Looking overseas, APSEZ is laying out bold plans to triple its international operations by 2029-30. With major investments in Israel, Tanzania, and Sri Lanka, the company is aiming to handle 140–150 million metric tonnes (MMT) of cargo globally by the end of the decade. Domestic volumes are also expected to grow steadily, with capacity projected to reach 820-850 MMT. To fuel this ambition, APSEZ is doubling down on key global assets, including Israel's Haifa port, the under-construction port in Tanzania, and Colombo West International Terminal in Sri Lanka. Conclusion Indian port industry will grow at the rate of 4-7% over the next five years, supported by rising imports, a decline in freight costs, and the normalisation of global supply chains, according to a report by Motilal Oswal. Along with its expansion plans, Adani Ports' is set to benefit from the growth of the industry as well. But with the ongoing conflict in the Middle East and uncertainties surrounding its Haifa port investment, all eyes are on the company's global impact. It's important to conduct thorough research on financials and corporate governance before making investment decisions, ensuring they align with your financial goals and risk tolerance. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
India Today
5 days ago
- Business
- India Today
Stocks to watch on June 16: Adani Enterprises, Sun Pharma, NTPC, Bajaj Finance
Stock markets are expected to start the new week on a cautious note on June 16, as global investors closely track ongoing geopolitical tensions in the Middle the previous week, the stock market fell by over 1% due to nervousness around rising crude oil prices and global trading resumes on Monday, shares of several companies will be in focus due to fresh developments. These include Adani Enterprises, Sun Pharma, NTPC, Bajaj Finance, Vedanta, and ENTERPRISESAdani Enterprises will be one of the top stocks to watch after the company clarified reports regarding damage to its Haifa Port in Israel. The clarification came after news reports claimed the port was hit by an Iranian Sunday, Jugeshinder Robbie Singh, the Chief Financial Officer of the Adani Group, said these reports are false. He stated that the Haifa Port has not suffered any damage and that the port is operating as statement comes at a time when investors are reacting sharply to global events, especially those linked to the Middle East PHARMASun Pharmaceutical confirmed that the US Food and Drug Administration (FDA) completed an inspection of its Halol plant. The inspection ended with eight observations issued in a Form 483 inspections are important for pharmaceutical companies as they decide whether the company can continue to supply medicines to the US, one of its biggest markets. Investors will be watching to see how the company responds to these FINANCEBajaj Finance shares will be in the spotlight as they will trade ex-bonus and ex-stock split starting June 17. The company had announced a bonus issue in the ratio of 4:1, meaning shareholders will receive four additional shares for each share with this, the face value of each share will be split from Rs 2 to Rs 1, making the shares more affordable for retail investors. These changes were part of the company's announcements during its fourth-quarter earnings the state-run power producer, announced that it has started commercial operations at Unit-3 of the North Karanpura Super Thermal Power Project. This unit has a capacity of 660 start of commercial operations means the company can now earn revenue from power generated by this unit, which could help boost its financial performance in the coming announced the completion of its acquisition of 100% stake in Sresta Natural Bioproducts (SNBPL) for Rs 400 crore. As a result, SNBPL and its overseas companies in the US and UAE have now become wholly owned subsidiaries of has said it will hold a board meeting on June 18 to consider an interim dividend for the current financial year, FY26. The company has fixed June 24 as the record date to determine which shareholders are eligible to receive the are payouts made to shareholders, and news of such proposals can influence stock prices ahead of the board TECHNOLOGIESGaming and media firm Nazara Technologies will also be under focus after well-known investor Rekha Jhunjhunwala sold over 27 lakh shares in the company on June move reduced her holding in the firm. Large stake sales by key investors usually draw attention in the stock market, and share prices may react INTERNATIONALBiotech firm Syngene International has received an Establishment Inspection Report (EIR) from the US FDA for its GMP manufacturing units located in Biocon Park. This report suggests that the FDA has completed its inspection and has no immediate regulatory is seen as a positive sign for the company and may lead to investor interest in the stock. advertisement
Time of India
5 days ago
- Business
- Time of India
Adani Ports shares in focus as CFO denies damage to Haifa Port in Iranian missile strike
Adani Ports shares will be in focus on Monday after Adani Group CFO Jugeshinder Robbie Singh refuted reports claiming that the company's Haifa Port in Israel had been damaged in Iranian missile strikes over the weekend. Late on Saturday night, Iran targeted Israel's Haifa port and a nearby oil refinery in response to Tel Aviv's attack on Iranian nuclear and other targets earlier this week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chuck Norris Begs Seniors: Avoid These 3 Foods Like The Plague Roundhouse Provisions Watch Now Undo 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. False. — Jugeshinder Robbie Singh (@jugeshinder) June 15, 2025 A piece of interceptor shrapnel was also found at the Kishan West (Haifa port), but there were no injuries, they said. Live Events The Iranian ballistic missile attack did not inflict any damage to the port or its operations, news agency PTI reported, quoting its sources. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside Adani's Haifa port At the centre of Adani's presence in Israel is Haifa Port, where Adani Ports holds a 70% stake acquired in 2023 for $1.2 billion in partnership with Israel's Gadot Group. Strategically located in northern Israel, the port contributes approximately 3% to Adani Ports' annual cargo volume and is crucial for Israel's imports and exports. Haifa port serves as a crucial maritime hub, handling over 30% of Israel's imports. It is owned by Adani Ports, which controls a 70% share. The missiles may have caused damage to a major oil refinery near the port, but there was no official comment on the impact. Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months During past regional escalations, Adani Ports shares had slipped as dry bulk vessels encountered bottlenecks. Market participants note that while the financial exposure may be limited, the symbolic and strategic weight of the asset makes it vulnerable to sustained geopolitical tensions. Haifa is less than 2 per cent of the volume handled by Adani Ports and SEZ and contributed about 5 per cent of the revenue. APSEZ handles a total cargo of 10.57 million tonnes. Israel attacked Iran early Friday, targeting its nuclear, missile and military infrastructure. Iran later launched retaliatory strikes on Israel. The two countries traded strikes for a third day on Sunday as the Middle East region braced for a protracted conflict. Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upside Iran said Israel struck two oil refineries, raising the prospect of a broader assault on Iran's heavily sanctioned energy industry that could affect global markets. Some Iranian missiles evaded Israeli air defences to strike buildings in the heart of the country. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
5 days ago
- Business
- Economic Times
Stocks in news: Adani Enterprises, Sun Pharma, Vedanta, Nazara Tech, NTPC
Markets remained under pressure and declined by over a percent in the week gone by, weighed down by rising geopolitical tensions and mixed global cues. In today's trade, shares of Adani Enterprises, Sun Pharma, Vedanta, Nazara Tech, NTPC among others will be in focus due to various news developments. ADVERTISEMENT Adani Enterprises Indian conglomerate Adani group's Chief Financial Officer Jugeshinder Robbie Singh on Sunday said reports of company's Haifa port in Israel being harmed by the Iranian ballistic missile attack are false. Bajaj Finance Shares of Bajaj Finance will trade ex-bonus and ex-stock split starting June 17. The company had announced a 4:1 bonus issue and a stock split of Rs 2 face value shares into two shares of Rs 1 each alongside its Q4 results. Sun Pharma Sun Pharmaceutical confirmed that the US FDA concluded an inspection of its Halol facility with eight observations in a Form 483. Vedanta Vedanta said it will hold a board meeting on June 18 to consider its first interim dividend proposal for FY26. The record date has been set for June 24. Nazara Technologies Investor Rekha Jhunjhunwala sold over 27 lakh shares of Nazara Technologies on June 13, reducing her stake in the gaming firm. ADVERTISEMENT Syngene International Syngene International received an EIR from the US FDA for its GMP manufacturing facilities in Biocon Park. NTPC ADVERTISEMENT State-run power producer NTPC has started commercial operations of Unit-3 (660 MW) at its North Karanpura Super Thermal Power Project. ITC ITC announced the completion of its acquisition of 100% stake in Sresta Natural Bioproducts (SNBPL) for Rs 400 crore. SNBPL and its overseas arms in the US and UAE now become wholly owned subsidiaries of ITC. ADVERTISEMENT Birla Corporation Birla Corporation has emerged as the preferred bidder for the Gourum Khan Ki Dhani (South) limestone block in Rajasthan. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Mayor
24-05-2025
- Entertainment
- Business Mayor
Omeda Studios announces Predecessor esports summer tournaments
Omeda Studios announced a full competitive summer calendar for their free-to-play third-person action MOBA Predecessor, setting up an environment for esports action. This follows the success of its recent Summer Showdown Creator Tournament, which drew notable attention from the community as well as the wider esports scene. The Sunday Showdown Creator Tournament delivered fast-paced, competitive action for both players and fans alike, as well as garnering strong engagement across social and editorial channels, driven by Predecessor's deeply invested player base and creator community. Omeda Studios' Predecessor has its servers concentrated in Dallas. Now I can understand why Omeda Studios made its last move. The CEO, Robbie Singh, told me in an interview in April that the company decided to consolidate all of its servers in Dallas, which generally has a reputation for having the best internet in the country. This helped reduce the ping differences between the West Coast players and the East Coast players, resulting in happier players and fair matches, Singh said. Data collected over a few months showed that centralized servers worked better for everyone, he said. The company used Hathora as its tech solution. By way of background, the fact that Omeda has a real game at all is impressive. Singh, who was a big fan of the original game, helped bring it back from the dead. Epic Games started the work on the title, then called Paragon, years ago but shut it down in 2018. But rather than close it altogether, Epic Games open sourced the title, and creator Singh agreed to acquire it in 2021. After four years of development (and $22 million raised, including some via a grant from Epic Games), Singh's Omeda Studios finally launched the title in August 2024. The game debuted on the PC, PlayStation and Xbox platforms and now has two million players across all those platforms. As a result of the success, the team has grown from about five to 10 at the start of development to around 87. Read More A PS5 version of Minecraft is here - but it's not done quite yet Getting back to Dallas: The ping time for the game had been about 100 for the West Coast, and 80 for the East Coast. Now, with improvements to the technology, both coasts can operate on a ping time of 40 milliseconds. Players can generally see the difference. It's usually the most competitive players that will notice it the most, Singh told me last month. This momentum now sets the stage for a new era of grassroots and regional competitive play with the Predecessor Championship Circuit. Omeda Studios' Predecessor. Players looking to compete can sign up on the official website starting on the 31st of May, 2025. For all the important dates regarding the Predecessor Championship Circuit, check out the details below: Key Dates: ● PCC 2025 Summer Sign-Ups: May 31● PCC Creator Cup: June 14–15● PCC NA 2025 Summer Preliminaries: June 21–22● PCC EU 2025 Summer Preliminaries: June 28–29 ● PCC NA & EU 2025 Summer Finals: July 12–13 The upcoming schedule is designed to spotlight emerging talent, foster community engagement, and continue laying the foundation for Predecessor's growing esports scene. 'Building on the incredible energy from last month's creator tournament, we're thrilled to announce a monumental leap forward for Predecessor esports with the launch of our official Predecessor Championship Circuit in both Europe and North America,' said Singh, in a statement today. 'This is a massive step, showcasing our commitment to fostering competitive play and directly supporting our incredible community. By releasing the Victorious skin line in 1.6, with all proceeds going towards the prize pool, we're empowering players and cementing the future of Predecessor as a premier esport.' Further details on the format will be shared soon across official Predecessor channels. The tournaments will be streamed on the official Predecessor Twitch channel, so fans can tune in live here. For now, players and fans can mark their calendars and prepare for the exciting next chapter of Predecessor esports. Predecessor is a fast-paced, strategic MOBA game, putting players at the heart of the action with unique characters and abilities, with stunning third-person gameplay and next-gen graphics. Whether this is someone's first MOBA experience or they're a veteran of the genre, Predecessor gives players all of the tools needed to succeed and is available to play now across multiple platforms. Predecessor is available to play on PlayStation 5, Xbox Series X and Microsoft Windows via Steam and Epic Games. GB Daily Stay in the know! Get the latest news in your inbox daily Read our Privacy Policy Thanks for subscribing. Check out more VB newsletters here. An error occured. READ SOURCE businessmayor May 23, 2025
