Canara Bank, Indian Bank, SBI, L&T shares: Expert sees opportunity amid US-Iran tensions
"We need to maintain a very agile trading strategy and look at investment opportunities which have been beaten down due to the ongoing war," Gaurav Sharma stated.
- Mar 11, 2026,
- Updated Mar 11, 2026 4:31 PM IST
Amid heightened geopolitical tensions due to the ongoing US-Iran conflict, select beaten-down stocks could present attractive investment opportunities, according to a market expert.
Gaurav Sharma of Globe Capital on Wednesday said the situation in West Asia remains uncertain. "The US-Iran conflict is still on, and the Strait of Hormuz is not normalised for maritime transit yet. Till these things return to normal, it will be difficult to say whether the worst is behind us or not," the market expert told Business Today.
"We need to maintain a very agile trading strategy and look at investment opportunities which have been beaten down due to the ongoing war," Sharma added. He further said, "We've been bullish on the PSU banking pack. Canara Bank, Indian Bank and SBI (State Bank of India) are the top picks from the select segment."
Apart from PSU lenders, Sharma also highlighted Larsen & Toubro (L&T) as an attractive bet at current levels. "Another stock that catches our eyes is L&T. This particular company drives a reasonable part of its international revenue from the Gulf region. Due to the ongoing war, the stock has also been beaten down from as high as Rs 4,400-plus levels to currently trade below the Rs 3,900 mark. These are attractive levels, and once things normalise, the firm will get the reconstruction orders from various government authorities in the Gulf region. From a medium- to long-term perspective, L&T is an attractive bet at these levels."
Meanwhile, Indian equity benchmarks resumed their sharp fall on Wednesday after a single-day halt, weighed down by weakness in heavyweight stocks and lingering global concerns. The 30-share BSE Sensex pack tumbled 1,342.27 points or 1.72 per cent to close at 76,863.71, while the NSE Nifty index dropped 394.75 points or 1.63 per cent to 23,866.85.
Heavyweight stocks such as HDFC Bank Ltd, Axis Bank Ltd, ICICI Bank Ltd, Bharti Airtel Ltd, Bajaj Finance Ltd, Reliance Industries Ltd (RIL), Mahindra & Mahindra (M&M), State Bank of India (SBI), Infosys Ltd, Kotak Mahindra Bank, Tata Consultancy Services (TCS), Maruti Suzuki India Ltd (MSIL) and Larsen & Toubro (L&T) were among the key contributors to the decline, dragging the benchmarks lower.
The broader market also mirrored losses, with Nifty Midcap 100 falling 1.25 per cent and Nifty Smallcap 100 down 0.36 per cent.
Amid heightened geopolitical tensions due to the ongoing US-Iran conflict, select beaten-down stocks could present attractive investment opportunities, according to a market expert.
Gaurav Sharma of Globe Capital on Wednesday said the situation in West Asia remains uncertain. "The US-Iran conflict is still on, and the Strait of Hormuz is not normalised for maritime transit yet. Till these things return to normal, it will be difficult to say whether the worst is behind us or not," the market expert told Business Today.
"We need to maintain a very agile trading strategy and look at investment opportunities which have been beaten down due to the ongoing war," Sharma added. He further said, "We've been bullish on the PSU banking pack. Canara Bank, Indian Bank and SBI (State Bank of India) are the top picks from the select segment."
Apart from PSU lenders, Sharma also highlighted Larsen & Toubro (L&T) as an attractive bet at current levels. "Another stock that catches our eyes is L&T. This particular company drives a reasonable part of its international revenue from the Gulf region. Due to the ongoing war, the stock has also been beaten down from as high as Rs 4,400-plus levels to currently trade below the Rs 3,900 mark. These are attractive levels, and once things normalise, the firm will get the reconstruction orders from various government authorities in the Gulf region. From a medium- to long-term perspective, L&T is an attractive bet at these levels."
Meanwhile, Indian equity benchmarks resumed their sharp fall on Wednesday after a single-day halt, weighed down by weakness in heavyweight stocks and lingering global concerns. The 30-share BSE Sensex pack tumbled 1,342.27 points or 1.72 per cent to close at 76,863.71, while the NSE Nifty index dropped 394.75 points or 1.63 per cent to 23,866.85.
Heavyweight stocks such as HDFC Bank Ltd, Axis Bank Ltd, ICICI Bank Ltd, Bharti Airtel Ltd, Bajaj Finance Ltd, Reliance Industries Ltd (RIL), Mahindra & Mahindra (M&M), State Bank of India (SBI), Infosys Ltd, Kotak Mahindra Bank, Tata Consultancy Services (TCS), Maruti Suzuki India Ltd (MSIL) and Larsen & Toubro (L&T) were among the key contributors to the decline, dragging the benchmarks lower.
The broader market also mirrored losses, with Nifty Midcap 100 falling 1.25 per cent and Nifty Smallcap 100 down 0.36 per cent.