Business
Defence stocks surge on Middle East tensions! HAL, BEL, Paras Defence rise up to 13% even as stock market crashes – The Times of India
Defence stocks today: Contrary to the crash in Nifty50 and BSE Sensex, defence stocks on Monday moved up in trade as rising Middle East tensions brought focus back on them. Shares of defence companies such as Hindustan Aeronautics, Bharat Dynamics, BEL and Paras Defence surged by as much as 13.5% as tensions in the Middle East intensified following the death of Iran’s supreme leader, Ayatollah Ali Khamenei. The escalation has raised expectations of increased export opportunities and strengthened investor sentiment toward the sector. Paras Defence led the gains, climbing 13.5%. Meanwhile, HAL, BEL and Bharat Dynamics advanced by up to 3.5% on the BSE.During his recent visit to Israel, Prime Minister Narendra Modi said that the two countries would move ahead with joint development, production and technology transfer in the defence sector.A joint statement issued after the visit noted that India and Israel would collaborate on the co-development and manufacturing of defence equipment to deepen strategic ties. The two sides also agreed to work toward concluding a bilateral trade agreement soon, broaden cooperation under the UPI digital payments framework, and partner on space projects and emerging technologies, among other areas.Brokerage house JM Financial said Indian defence companies such as Hindustan Aeronautics Limited and Bharat Electronics Limited may receive sentiment support despite continued volatility in domestic equities amid a broader global risk-off environment, according to an ET report.Defence counters have seen significant fluctuations in recent months. The sector saw a robust rally last year after Indian armed forces conducted targeted strikes against terrorist groups in Pakistan and Pakistan-occupied Kashmir. However, the uptrend later lost steam in the absence of new catalysts.Even as defence counters could witness a strong rally amid the escalating conflict, the wider equity market is expected to stay subdued.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
Business
Shree Ram Twistex IPO Lists At 30% Discount, Clean Max Falls 20% In Debut Trade: Should You Buy, Sell Or Hold?
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Shares of Shree Ram Twistex Ltd and Clean Max Enviro Energy Solutions Ltd make lacklustre stock market debuts on March 2.
IPO Listings of Shree Ram Twistex Ltd and Clean Max Enviro Energy Solutions Ltd.
Shares of Shree Ram Twistex Ltd and Clean Max Enviro Energy Solutions Ltd made lacklustre stock market debuts on March 2, listing at steep discounts to their issue prices amid a sharp broader market sell-off triggered by escalating geopolitical tensions in the Middle East.
At 01:57 pm, the Sensex tumbled over 1,800 points, slipping below the 79,500 level; meanwhile, Nifty dropped below the 24,650 level.
Shree Ram Twistex lists at sharp discount
Shree Ram Twistex opened at Rs 68 on NSE, down 34.61% from its issue price of Rs 104, and at Rs 70 on BSE, marking a decline of 32.69%. The company’s market capitalisation stood at Rs 275.83 crore after listing.
Despite the weak debut, the IPO had seen strong investor demand, receiving 43.66 times subscription. The Rs 110.24-crore issue was entirely a fresh issue of up to 1.06 crore shares priced in the Rs 95-104 band.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said, “The muted listing reflects cautious sentiment and possible profit booking, even though the IPO was subscribed 43.66 times, with very strong demand in the retail and NII categories.”
She added that proceeds will be used for captive solar and wind power plants, debt repayment, and working capital support, which could lower energy costs over time.
“Volatility may persist in the short term. High-risk investors can consider holding with a strict stop loss at Rs 60. Fresh entry is advisable only after the stock shows signs of stability and buying support,” she said.
Clean Max falls sharply after listing
Clean Max Enviro Energy Solutions listed at Rs 960 on NSE, an 8.83% discount to its upper price band of Rs 1,053, and at Rs 952.20 on BSE, down 9.57%. During the session, the stock dropped as much as about 20% from its opening levels. The firm’s market valuation stood at Rs 10,111.54 crore.
The Rs 3,100-crore IPO saw moderate demand, getting subscribed 94%. The issue comprised a fresh issue worth Rs 1,200 crore and an offer-for-sale of Rs 1,900 crore.
Nyati said, “While the long term business outlook remains structurally positive, the weak listing indicates near term caution and limited immediate upside visibility.”
She advised caution for investors: “Allottees may hold if risk appetite is high but should maintain a strict stop loss at Rs 900. Fresh investors are advised to wait for price stability and strong demand support before considering new positions.”
Business fundamentals vs listing sentiment
Shree Ram Twistex manufactures cotton yarn, while Clean Max operates in the renewable energy solutions space, providing solar, wind, hybrid power and carbon credit services for commercial and industrial clients.
Analysts note that weak listing performance does not necessarily reflect long-term fundamentals, particularly when broader market sentiment is risk-averse. However, steep listing discounts often indicate either aggressive IPO pricing or short-term liquidity pressure.
Should investors buy, sell or hold?
For Shree Ram Twistex, experts suggest only high-risk investors consider holding with tight risk management, while new investors should wait for price discovery. For Clean Max, the recommendation is similar: hold only if risk appetite is high and avoid fresh positions until stability returns.
In both cases, analysts stress that listing day performance should not be the sole investment metric; sustained earnings visibility, balance-sheet strength and institutional participation over the coming quarters will determine whether these stocks recover or continue to lag.
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March 02, 2026, 14:42 IST
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Business
Stock Market News Live Updates: Sensex Down Over 1,000 Points, Nifty Below 24,900; India VIX Jumps Nearly 20%
Nifty, Sensex Stock Market Today Live Updates: Indian benchmark indices continued their downward trajectory on Monday, tracking weak global cues as geopolitical tensions between the US and Iran escalated.
As of 11:00 AM, the Sensex was trading 1.34 per cent, or 1,086.02 points, lower at 80,201.17, while the Nifty50 declined 1.31 per cent, or 350.55 points, to 24,828.10. Shares of Larsen & Toubro, InterGlobe Aviation and Adani Ports and Special Economic Zone were among the biggest laggards in the Nifty 50 index.
Broader market indices also traded in the red, with the Nifty MidCap and Nifty SmallCap indices falling 0.93 per cent and 1.3 per cent, respectively. Among sectoral indices, the Nifty Auto was the worst performer, sliding more than 2 per cent as shares of Maruti Suzuki India and Mahindra & Mahindra came under pressure.
On the other hand, the Nifty Metal index declined the least, making it the relatively best-performing sectoral index in early trade despite the overall weak market sentiment.
Global Cues
Over the weekend, Iran’s Supreme Leader Ayatollah Ali Khamenei and several senior officials were killed in a joint US-Israel military operation. The conflict appears set to intensify, with US President Donald Trump vowing to retaliate after American servicemen were killed in Iran’s counterattacks, according to agency reports.
Asian markets tumbled in early Monday trade. Japan’s Nikkei 225 and South Korea’s Kospi dropped as much as 2.7% and 2.43%, respectively.
On Sunday, US stock futures declined more than 1% after the strikes on Iran. Both the S&P 500 and the Dow Jones Industrial Average were reported to have fallen 1.11% each.
During the Asia session, Dow Jones Industrial Average futures and S&P 500 futures were down 0.6% and 0.54%, respectively.
In commodities, oil prices surged amid rising concerns over supply disruptions in the key producing region. Brent crude futures jumped 13.76% to $82.37 per barrel — the highest level since January 2025 — according to Bloomberg data.
Gold and silver futures rose more than 1% as investors turned to safe-haven assets.
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