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Informist, Thursday, Jun. 19, 2025

By Anjana Therese Antony

MUMBAI – As the conflict between Iran and Israel intensified, more short bets were added to the derivatives chain of Adani Ports and Special Economic Zone which operates the Haifa port in the northern part of Israel. Premiums on out-of-the-money call contracts of the company fell while those on put options surged.

In January 2023, Adani Ports and Israel's Gadot Group completed the acquisition of Haifa Port Co. from the Israel government. The concession period for the port is up to 2054. According to media reports, Haifa port accounts for about 3% of Adani Ports' cargo volume and 5% of the company's revenue. For the quarter ended March, the company had reported a consolidated revenue of INR 84.88 billion and a net profit of INR 30.14 billion.

Adani group Chief Financial Officer Jugeshinder Robbie Singh Sunday denied reports that the cargo facility worth $4.2 billion at the port was destroyed by Iranian missile strikes. However, the stock continued its southward journey for the seventh straight session Thursday, falling 9% in this period.

The stock Thursday closed 2.5% lower at INR 1,338 on the National Stock Exchange. The stock was the worst-hit among Nifty 50 constituents, losing INR 74.74 billion in market capitalisation. Premiums on INR 1,340-INR 1,400 call options expiring May 26 declined 57-76%, while those on INR 1,340-1,240 put contracts increased 35-120%. The highest addition of open interest addition was at INR 1,360 call and INR 1,340 put strikes.

Rising tension in West Asia, with the possible entry of the US in the Israel-Iran conflict, and some cautious comments from the US Federal Reserve led to selling across global markets Thursday, including India. The Nifty 50 and the BSE Sensex ended 0.1% lower each at 24793.25 points and 81361.87 points, respectively. However, the domestic market fared better than most global peers in Asia and Europe which closed lower by 0.2-2.0%. South Korea's Kospi was the sole gainer, closing 0.2% higher.

--Nifty 50 Jun closed at 24778.00, down 48.90 points; 15.25-point discount to the spot index

--Nifty 50 Jul closed at 24892.60, down 49.00 points; 99.35-point premium to the spot index

--Nifty 50 Aug closed at 25006.70, down 43.70 points; 213.45-point premium to the spot index

HDFC Bank, Reliance Industries, Vedanta, Hindustan Aeronautics, Bharat Electronics, Bajaj Finance, ICICI Bank, Infosys, BSE, State Bank of India, Tata Motors, Tech Mahindra, Hindustan Zinc, Vodafone Idea, Axis Bank, Adani Enterprises, Eternal, United Spirits, Tata Consultancy Services, Bharti Airtel, Kotak Mahindra Bank, and Multi Commodity Exchange were the most active underlying stocks Thursday.  End

Edited by Ashish Shirke

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