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US defence stocks outperformed after US-Israel strikes on Iran, Lockheed Martin, RTX, Northrop Grumman saw mixed stock moves, Policy uncertainty and capital limits hinder stock gains

* US defence stocks outperformed after US-Israel strikes on Iran
* Lockheed Martin, RTX, Northrop Grumman saw mixed stock moves
* Policy uncertainty and capital limits hinder stock gains

US defence stocks outperformed the broader market after US-Israel strikes on Iran, but gains have cooled. Investors are cautious due to policy uncertainty and restrictions on dividends and buybacks. Boeing fell sharply after halting 737 MAX deliveries.

shorts/business/us-defence-stocks-hold-gains-after-iran-strikes-but-rally-cools-amid-spending-uncertainty

Shares of publicly traded US defence companies largely outperformed the broader market after the US and Israel carried out unprecedented strikes on Iran that sent global energy prices soaring, though the rally seen earlier this year has cooled.

Since February 26, defence stocks have largely held steady. Lockheed Martin fell 0.64 percent, RTX Corp (formerly Raytheon) rose 1.6 percent, Northrop Grumman gained 0.5 percent, and General Dynamics fell 0.3 percent. Boeing declined 12.3 percent after halting 737 MAX deliveries in March due to a machining error, while the S&amp;amp;P 500 Index fell 4.4 per cent over the same period.

The US and Israel launched coordinated attacks on Iran on February 28, triggering retaliatory strikes by Iran on US bases in West Asia and Israel.

The muted reaction since the war started contrasts with sharp gains earlier. From the start of 2026 to February 26, Lockheed Martin rose a massive 33 percent, Northrop Grumman gained 25 percent, RTX Corp advanced 8 percent, Boeing added 6 percent, and General Dynamics climbed 5 percent, while the S&amp;amp;P 500 Index rose 1 percent.



According to a Wall Street Journal report, the limited reaction in defence stocks despite the conflict reflects investor focus on policy uncertainty around defence spending and capital allocation. US President Donald Trump has proposed a $1.5 trillion defence budget for fiscal year 2027, though details remain unclear. The plan was expected to be supported by tariff revenues, which have since been struck down by the Supreme Court, while the administration has yet to submit its formal budget proposal.

The report also highlighted increased scrutiny on defence contractors’ capital allocation. Earlier this year, an executive order restricted companies from paying dividends or conducting share buybacks until they demonstrate timely and cost-efficient project execution. Companies have since raised capital expenditure plans and refrained from providing clarity on buybacks, which could weigh on earnings per share in the near term.

US defence stocks hold gains after Iran strikes, but rally cools amid spending uncertainty

Nifty Metal index rose 2 percent, ending a two-day losing streak., JSW Steel and Tata Steel led gains, Tata Steel up 4.69 percent., HSBC raised Tata Steel's price target to Rs 250, reiterates 'buy'.

* Nifty Metal index rose 2 percent, ending a two-day losing streak.
* JSW Steel and Tata Steel led gains, Tata Steel up 4.69 percent.
* HSBC raised Tata Steel's price target to Rs 250, reiterates 'buy'.

Nifty Metal index rose 2% after a two-day slump, led by steel stocks. JSW Steel gained over 4%, Tata Steel surged 4.69%. HSBC raised Tata Steel's target price, citing import protections in key markets. Aluminium stocks, however, declined.

shorts/business/metal-index-rises-2-with-jsw-steel-emerging-as-top-nifty-gainer-tata-steel-gains-3-5-on-target-hike-by-hsbc

The Nifty Metal index snapped its two-day losing streak to rise 2 percent on Friday, after falling about 3.5 percent in the previous two sessions. The gain was led by strong buying in steel stocks.

JSW Steel emerged as the top gainer, rising over 4 percent. Shares of Tata Steel climbed 4.69 percent to hit an intraday high of Rs 199.44 on the NSE.

HSBC has raised its price target on Tata Steel and reiterated a ‘buy’ rating, citing protective measures in key markets.

In a note dated March 20, the brokerage increased the target price to Rs 250 from Rs 235 earlier, implying an upside potential of 31 percent from Thursday’s closing level, reported CNBC-TV18.

The UK has recently announced import protection measures, including a 50 percent tariff and sharply reduced quotas, aimed at supporting its domestic steel sector amid concerns over global overcapacity. This follows the European Union’s move to impose a carbon price on imported steel based on emissions intensity.

HSBC said Tata Steel’s key markets now have multi-year import protections in place, and raised its earnings estimates for FY27–FY28 by 5–14 per cent.

Meanwhile, aluminium stocks came under pressure. Shares of National Aluminium Co Ltd fell 4 percent to Rs 362.75 on the NSE.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Metal index rises 2% with JSW Steel emerging as top Nifty gainer; Tata Steel gains 3.5% on target hike by HSBC

India Auto Index drops 15% in 20 days due to supply issues, CLSA reduced FY27 and FY28 earnings forecasts for auto OEMs by 3–13%., Target prices cut, long-term valuation impact minimal

* India Auto Index drops 15% in 20 days due to supply issues
* CLSA reduced FY27 and FY28 earnings forecasts for auto OEMs by 3–13%.
* Target prices cut, long-term valuation impact minimal

India’s auto sector faces risks from rising crude prices and Middle East supply disruptions, with CLSA warning of potential earnings downgrades and further stock declines. CLSA cut target prices but says long-term valuation impact remains limited.

shorts/business/auto-stocks-face-earnings-risk-as-clsa-cuts-estimates-on-crude-supply-disruptions

India’s auto sector is facing mounting pressure from rising crude prices and supply-chain disruptions linked to the Middle East crisis, with CLSA warning of potential earnings downgrades and further downside risks.

The India Auto Index has declined about 15 percent over the past 20 days amid concerns over production disruptions and sharp inflation in commodity costs. CLSA said that if disruptions and elevated commodity prices persist for the next two to three months, FY27 earnings could see cuts of 30–40 percent.

The brokerage said the key uncertainty is whether the impact remains limited to the near term or evolves into a broader earnings downgrade cycle. It noted that during the first Covid wave, auto OEM stocks corrected 30–45 percent over a 40-day period, indicating that a further 15 percent decline from current levels cannot be ruled out.

CLSA has already revised its estimates lower across auto OEMs, cutting FY27 and FY28 earnings per share by 3–13 percent. It also lowered Ebitda margin assumptions by 100 basis points, raised average selling prices by 3–4 percent to reflect price hikes and trimmed volume estimates by about 2 percent.

CLSA largely maintained its ratings across companies while lowering target prices following the earnings revisions. It retained an outperform rating on Ashok Leyland, Bajaj Auto, Eicher Motors, Escorts Kubota, Hyundai Motor India, Mahindra &amp;amp; Mahindra, Maruti Suzuki, Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles and TVS Motor, while Hero MotoCorp remained rated hold.

Target prices were reduced across the board, with Ashok Leyland cut to Rs 216 from Rs 227, Bajaj Auto to Rs 10,707 from Rs 11,410, Eicher Motors to Rs 7,454 from Rs 8,066 and Escorts Kubota to Rs 3,752 from Rs 4,313. Hero MotoCorp’s target price was lowered to Rs 5,437 from Rs 5,913, Hyundai Motor India to Rs 2,652 from Rs 2,853, Mahindra &amp;amp; Mahindra to Rs 4,448 from Rs 4,702 and Maruti Suzuki to Rs 15,961 from Rs 17,743. Tata Motors Passenger Vehicles’ target price was cut to Rs 440 from Rs 450, Tata Motors Commercial Vehicles to Rs 648 from Rs 673 and TVS Motor to Rs 3,846 from Rs 4,146.

Despite near-term pressures, CLSA said the long-term valuation impact remains limited. Its discounted cash flow analysis shows that eliminating FY27 free cash flow results in only about a 3 percent decline in target values for established OEMs.

The brokerage added that a further 10–15 percent correction driven by rising crude prices and ongoing supply disruptions cannot be ruled out. CLSA’s top picks in the sector include Mahindra &amp;amp; Mahindra, Bajaj Auto, TVS Motor, Tata Motors Passenger Vehicles and Ashok Leyland.

Auto stocks face earnings risk as CLSA cuts estimates on crude, supply disruptions

Indian stocks show negative returns over 3 and 5 years, Rising oil prices and foreign outflows weigh on market sentiment, Global brokerages downgrade India amid Middle East tensions

* Indian stocks show negative returns over 3 and 5 years
* Rising oil prices and foreign outflows weigh on market sentiment
* Global brokerages downgrade India amid Middle East tensions

Indian equities face broad-based long-term return erosion as geopolitical tensions, high oil prices, and foreign outflows weigh on markets. Most stocks across large, mid, and small caps show negative three- and five-year CAGR, with volatility expected to persist.

shorts/business/65-of-bse-1000-stocks-lose-3-year-cagr-returns-half-erase-5-year-gains

Indian equities are witnessing a broad-based erosion in long-term returns as persistent geopolitical tensions, elevated oil prices, and sustained foreign investor outflows weigh on markets, with a majority of stocks across large caps, midcaps and small caps turning negative on three- and five-year CAGR bases.

In the BSE 1000 Index, about 65 percent of stocks have turned negative on a three-year CAGR basis, while nearly half have erased returns over five years. Among these, 258 stocks delivered negative returns of 1–10 percent on a three-year CAGR basis, 168 stocks declined between 10–20 percent and 119 stocks fell in the 20–50 percent range. In addition, 119 stocks delivered flat returns over the three years.

On a five-year CAGR basis, 205 stocks posted negative returns of 1–10 percent, 95 stocks declined between 10–20 percent and 57 stocks saw declines in the 20–50 percent range.



Similarly, within the Nifty 100 Index, around 50 percent of stocks have turned negative on a three-year CAGR basis, while about 30 percent have declined on a five-year CAGR basis. In this segment, 17 stocks delivered flat returns over three years, while 34 stocks posted negative returns in the 1–20 percent range. On a five-year basis, 13 stocks delivered flat returns, while 16 stocks declined in the 1–20 percent range.

Selling pressure is more pronounced in broader markets. In the BSE 150 MidCap Index, about 50 percent of stocks have turned negative on both three- and five-year CAGR bases, while the BSE 250 SmallCap Index has seen about 65 percent of stocks turn negative on a three-year basis and around 50 percent decline on a five-year basis.

The pressure on equities has intensified amid a sharp rise in oil prices, with Brent crude crossing $110 per barrel, marking a 55 percent increase since the start of the conflict following attacks on key energy facilities in the Middle East. The escalation in the Iran conflict has weighed on global stock, bond and metals markets, with concerns intensifying that central banks may be forced to tighten policy to keep inflation in check.

Oil’s surge has raised concerns among global policymakers. The Bank of England and the Bank of Japan kept interest rates unchanged, citing increased uncertainty due to the conflict. The Bank of England held rates steady in a unanimous decision for the first time in four and a half years, while traders have increased expectations of two rate hikes by the European Central Bank and fully priced in three rate increases by the Bank of England. The US Federal Reserve also maintained a cautious stance, keeping rates unchanged while flagging upside risks to inflation amid rising energy prices and geopolitical tensions.

The disruption in energy supplies is seen posing risks to India’s projected economic growth of over 7 percent, keeping market sentiment under pressure. Global funds have pulled about $7.8 billion from Indian equities so far this month and about $939 million from bonds. Global brokerages have also turned cautious, with Morgan Stanley downgrading India to equal-weight from overweight and Citigroup flagging risks to earnings for the financial year ending March 2027 due to the Middle East crisis.

Experts said markets are entering a phase of heightened fragility, with sentiment driven by rapidly evolving geopolitical developments and the sharp rise in crude prices, and expect volatility to persist in the near term.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before making any investment decisions.

65% of BSE 1000 stocks lose 3-year CAGR returns; half erase 5-year gains

Shares of Samvardhana Motherson International rose 2 percent in the opening trade on March 20 after the company entered into a joint venture agreement with a Dubai-based firm.

At 09:22am, Samvardhana Motherson International was quoting at Rs 114.25, up Rs 2.40, or 2.15 percent, on the BSE.

The board of directors has approved the execution of a joint venture agreement with Hellmann Worldwide Logistics (MESA) Holding, a company incorporated under the laws of the Dubai International Financial Centre, United Arab Emirates.

The new joint venture company will be incorporated in Dubai, UAE with SAMIL holding majority control with 51%, and Hellmann will hold 49%.

The strategic partnership will enable SAMIL via its logistics solution division, to provide world class supply chain solutions to automotive industry and support customers with essential logistics requirements, company said.

The collaboration aims to enhance resilience, efficiency, and stabilityacross global supply chains by offering integrated third-party and fourth-party logistics services globally
(excluding Japan), it added.

The company added that the strategic relationship will become operational following the incorporation of the new joint venture entity in Dubai.

Catch all the market action on our live blog

Additionally, the board has approved the declaration of an interim dividend of ₹0.35 per equity share for the financial year 2025–26.

The stock has delivered strong returns, rising nearly 33% over the past one year.

Packaging - Films Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Packaging - Films industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

US defence stocks hold gains after Iran strikes, but rally cools amid spending uncertainty

Metal index rises 2% with JSW Steel emerging as top Nifty gainer; Tata Steel gains 3.5% on target hike by HSBC

Auto stocks face earnings risk as CLSA cuts estimates on crude, supply disruptions

65% of BSE 1000 stocks lose 3-year CAGR returns; half erase 5-year gains

Samvardhana Motherson shares up 2% on JV with Hellmann Worldwide Logistics

Packaging - Films Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Packaging - Films industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

US defence stocks hold gains after Iran strikes, but rally cools amid spending uncertainty

Metal index rises 2% with JSW Steel emerging as top Nifty gainer; Tata Steel gains 3.5% on target hike by HSBC

Auto stocks face earnings risk as CLSA cuts estimates on crude, supply disruptions

65% of BSE 1000 stocks lose 3-year CAGR returns; half erase 5-year gains

Samvardhana Motherson shares up 2% on JV with Hellmann Worldwide Logistics

Packaging - Films Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Packaging - Films industry stocks.