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

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

24 Jun , 2025 By : Debdeep Gupta

The shares of Adani Ports and Special Economic Zone (APEZ) strongly surged on June 24 amid buzz over possible ceasefire talks between Israel and Iran being brokered by the US. The shares of the company jumped nearly 5 percent to trade at Rs 1,418.7 apiece in the morning.

The stock had seen significant downturn earlier, amid escalating war in the oil-rich Middle East. This came on the back of safety concerns over its Haifa port in Israel. Since the outbreak of hostilities in early June, Iran retaliated to Israel's strikes by launching significant number of missiles at key areas and killing several people.

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, and thereby a likely target for Iranian strikes.

Iran had targeted the Haifa port and a nearby oil refinery. 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 remained unhampered, the rising hostilities raised investors' concerns over the possible disruption in case Iran strikes the port. The shares of the company had declined for six consecutive sessions from June 11 to June 19, dropping as much as 9 percent during the period.

However, US President Donald Trump on June 23 announced that Israel and Iran have reached a "complete and total" ceasefire agreement. "Congratulations to everyone! It has been fully agreed by and between Israel and Iran that there will be a complete and total ceasefire (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the war will be considered, ENDED!" he wrote in a post on Truth Social.