Israel-Hamas war: 9 listed companies that have exposure in the region

Israel-Hamas War: The Indian companies that have exposure to Middle East economies have been on their toes for the last few days since the geopolitical tensions erupted in Israel, worried about their operations in the region and the eventual impact on companies' balance sheets.

The Israel-Palastine tensions started on October 7 and kept escalating over the weekend. By Monday (October 10), it had turned into a war and the market watchers and investors were bracing for a crash in the Indian stock market. As the Hamas attack on Israel intensified, experts started to analyse its impact on oil prices, gold prices, inflation and eventually the economy.

Here are some stocks and companies that have operations in Israel and have exposure to the geopolitical tensions in Israel:

Experts pointed out that some of the prominent Indian companies, such as Tata Consultancy Services, Infosys, Wipro, Adani Ports, State Bank of India, Larsen & Toubro, Bharat Forge and Sun Pharma have business operations in Israel.

Adani Ports share price rose over 3 per cent in morning trade after the company said the overall contribution of Haifa in Adani Port's numbers is relatively small at 3 per cent of the total cargo volume. Adani owns Haifa Port in Israel.

Wipro share price rose almost a per cent in morning trade. Responding to a Mint query, Wipro said it has about 80 employees in Israel, all of whom are Israeli nationals. It has advised all employees in the country to work from home until further notice and follow the safety measures put in place by the local government.

On the other hand, shares of Sun Pharmaceutical declined over a per cent but recovered soon. Notably, Sun Pharma owns a majority stake in Israel’s Taro Pharmaceutical. Shares of TCS also declined about a per cent but recovered soon.

The market appears to have shrugged off the concerns over the Israel-Hamas war as the equity benchmarks Nifty 50 and Sensex rose over half a per cent each in morning trade.

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While the course of geopolitical events cannot be predicted, experts do not see a major impact of the war on the Indian market. However, safe-haven assets, such as gold, have got a shot in the arm due to this geopolitical uncertainty. Gold is often considered a safe-haven asset in times of geopolitical turmoil, economic uncertainty, or financial market instability.

Also Read: Israel-Hamas war: Impact on Indian stocks

Hamas fighters on Saturday fired more than 5,000 rockets from the Gaza Strip toward Israel, killing at least 1,100 people and wounding several others, setting off air raid sirens across the country and raising the likelihood of a new round of heavy fighting.

Check all live updates of the Israel-Hamas war here

Israel has declared a complete seizure of Gaza imposing a complete blockade on the strip, as Palestinians brace for 'living another Nakba’. Now, a senior official informed that the Hamas group is ready for discussions over truce talks with Israel.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.