Adani Stocks Fall Sharply: What’s Behind The Sell-Off?

Adani Enterprises and Adani Ports witnessed sharp declines as escalating US-Iran tensions and the wider West Asia crisis weighed on market sentiment. Pankaj Pandey, Head of Research, ICICI Direct, says he does not have a view on Adani Enterprises but remains positive on Adani Ports as a business. He believes Adani Ports could benefit once the West Asia crisis stabilises and trade activity normalises. The company also has a strong growth plan for the next four to five years and has continued to deliver consistent quarterly numbers. With crude oil moving above $90 amid renewed geopolitical tensions, investors are closely watching the impact on trade, logistics and Adani stocks