Key Points
"That can disrupt oil supplies causing a spike in crude, which can trigger a risk-off in the market," said Dr. V K Vijayakumar of Geojit Financial Services.AFP..
While there was no panic selloff in global markets, including Dalal Street, as a result of the Israel-Hamas war, the conflict has turned the spotlight on several Indian companies with a presence in Israel...
Reddys and Lupin are also under investor scrutiny due to any potential impact on sector bellwether Tel Aviv-based Teva Pharmaceutical.. Bloomberg data showed miner NMDC and jewelers Kalyan Jewellers and Titan also have an Israeli connection.. Besides IT majors like Tata Consultancy Services (TCS), Wipro, Tech Mahindra and Infosys, State Bank of India (SBI) and Larsen & Toubro (L&T) also have a presence in Israel...
Other than these 14 Indian stocks, the conflict in the Middle East is having a negative impact on oil marketing companies as retailers will have a tough time matching the spike in crude oil prices ahead of Assembly elections this year and Lok Sabha polls due next year...
Railway stocks like IRCON, Jupiter Wagons, RVNL and IRFC fell around 5-6% each on fears that the war could impact India's plan of building an India-Middle East-Europe Economic Corridor which was announced at the G20 Summit..
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