The Adani Ports and SEZ share price rallied in Tuesday’s trading session, gaining as much as 4.7% to an intra-day low of Rs 1,418.70 on the National Stock Exchange. Adani Ports was the top gainer in the Nifty 50.
Not just that, the overall list of Adani Group stocks is in the green today. Ambuja Cements’ share price surged the most among the group stocks. It was up almost 5% at Rs 561.30. It was followed by Sanghi Industries, which rose over 4% to Rs 61.90.
The stock price of Adani Green Energy was up 3.35% at Rs 992.60, while that of ACC was up 2.5% at Rs 1863.60. Adani Energy Solutions’ share price surged 2.23% to Rs 856.25, while that of the flagship firm, Adani Enterprises, increased by 2.2% to Rs 2526.05. Other Adani Group stocks also followed suit.
What’s powering the rally in Adani Group stocks?
Israel-Iran ceasefire
The US President Donald Trump announced that a ceasefire between Israel and Iran is now in effect. Both nations in West Asia will stop attacking each other after 12 days. Israel said it agreed to the ceasefire after “eliminating the Iranian nuclear threat”, while Iran earlier said it would only stop its attacks if Israel did the same.
How does the Israel-Iran ceasefire affect Adani Group stocks?
Adani Ports operates and handles Israel’s biggest port, Haifa Port. In January 2023, Adani Ports, along with Israel’s Gadot Group, finished the purchase of a 70% stake in Haifa Port Company. Adani Ports and Gadot Group hold 70%-30% stake respectively in the consortium.
The port handles close to 20 million tonnes of cargo annually, according to its official website, and remains the busiest and most efficient port in Israel.
In West Asia, wars continue to cast shadows on energy and logistics, said Gautam Adani, Chairman of Adani Group at the Annual General Meeting on Tuesday. In Europe, economic confidence has stumbled, and the US has its own challenges, he said, adding that in the midst of all this noise, India stood apart and grew faster than any other major nation.
Adani Ports’ stock performance
The share price of Adani Ports has risen 0.56% in the last five trading sessions. Adani Ports’ share price has fallen 0.30% in the last one month. However, the logistic stock has given a return of 18% in the last six months and erased over 4% of investors’ wealth in the last one year.