Adani Ports shares surge 5% as investors cheer possible Iran-Israel ceasefire

Shares of Adani Ports and Special Economic Zone (APSEZ) surged close to 5% on June 24, reaching ₹1,418.70 in early morning trade, as investor sentiment improved amid reports of a possible ceasefire between Iran and Israel being brokered by the United States.

The uptick comes after weeks of volatility, during which the stock declined due to the escalating Middle East conflict, particularly concerns surrounding Adani’s strategic asset, the Haifa Port in Israel.

Adani Ports had faced mounting pressure in recent weeks after Iran launched retaliatory missile strikes following Israel’s early June military actions. Iran reportedly targeted Haifa port and a nearby oil refinery, raising alarm over Adani’s international exposure.

The Indian infrastructure giant had acquired a majority stake in Haifa Port in 2023 for $1.18 billion. The port is considered one of Israel’s most vital maritime hubs, making it a potential target during regional military escalations.