Share Market: The tension between Israel and Iran is affecting the whole world including India. Its effect is visible on Dalal Street. Investors have suffered a loss of about Rs 17 lakh crore in just 4 trading sessions. Many Indian companies have made substantial investments in Israel. These include pharma, port and IT companies. Now on Monday it will be interesting to see which path the stock market takes.
Investors are keeping a close eye on the situation in the Middle East
Due to this increasing tension in the Middle East, many Indian companies are suffering. Sun Pharmaceuticals has bought Taro Pharmaceutical. According to Sun Pharma, 14 percent of its revenue comes from markets like Israel, Canada, Japan, Australia and New Zealand. On October 4, the company’s shares closed down 2 percent. These days investors are keeping a close eye on the situation in the Middle East. It is feared that due to this conflict the prices of crude oil may also go up.
TCS and Infosys are also working in Israel
TCS (Tata Consultancy Services) and Infosys of IT sector are also working in Israel. TCS and Jaguar Land Rover had recently launched an open innovation program there. This will strengthen Israeli startups. On the other hand, Infosys had acquired Panaya Ltd. Its turnover was around Rs 342 crore.
Apart from Adani Ports, the stocks of petroleum companies will be monitored.
Adani Ports of Adani Group is also working in Israel. It operates Haifa Port. From there the company gets a chance to expand its reach in the Middle East. Shares of Adani Ports have also fallen by about 3 percent. Apart from this, everyone’s eyes will also be on the shares of IOC, BPCL, HPCL and ONGC on Monday. Apart from this, Punjab Chemicals & Crop Protection is also doing a lot of work in Israel.
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