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Adani Ports Share Price Update | israel war effects

Due to the ongoing war in Israel, shares of Adani Ports opened with a decline of about 3%.

Adani Ports owns Haifa Port in Israel.

Haifa port is Israel’s second largest port in terms of shipping containers and the largest port in shipping tourist cruise ships.

What management said after June-quarter earnings:

Our newly acquired assets, Haifa Port and Karaikal Port have seen good growth and now the monthly cargo volume at both these ports has reached 1 million metric tonnes. Therefore, we are confident that by the end of this financial year we will deliver between 12 to 14 million tonnes of cargo to Haifa.

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