Stocks to Watch on Mar 2, 2026: Tata Steel, Eicher Motors, Oil Sensitives and More

On Friday, February 27, 2026, benchmark indices traded with a negative bias. Market participants continue to monitor global geopolitical developments and corporate announcements ranging from legal disputes to operational performance that could drive stock-specific action. 

Tata Steel Ltd 

Tata Steel has won a significant income tax appeal dating back to February 20, 2026, allowing the company to claim a crucial interest deduction of ₹518.76 crore related to its Corus acquisition for FY2008. 

This favourable ruling from the income tax appellate body reduces the company's total tax exposure for the period from FY2008 to FY2015 to ₹1,686 crore, down from ₹1,901 crore. Furthermore, the order is expected to have a persuasive impact on other pending litigations for subsequent years, marking a major positive development for the steel major. 

Eicher Motors Ltd 

Eicher Motors continued its growth trajectory in February 2026, with its Royal Enfield subsidiary reporting an 11% rise in total motorcycle sales, reaching 1,00,905 units. The growth was primarily driven by a 16% surge in demand for its 350cc models, while domestic sales grew by a robust 13% to 91,248 units. 

Adding to the positive momentum, the company also announced a significant ₹958 crore expansion at its Cheyyar plant, aiming to increase its annual production capacity from 1.46 million to 2 million units over the next 18 months. 

Read More: Key Trends to Watch in March 2026: Auto Sales, Inflation Number and More! 

Oil Sensitives: ONGC, Oil India, HPCL, BPCL, Indian Oil  

Stocks sensitive to crude oil price movements will be the most important to monitor as crude is likely to surge following the US attack on Iran, the death of Iran's Supreme Leader Khamenei (confirmed by state media), and the reported closure of the Strait of Hormuz a key oil supply point. 

• Positive for upstream explorers: ONGC and Oil India, every $1 rise in oil prices boosts their annual revenue by ₹300-400 crore.
• Negative for downstream refiners: HPCL, BPCL, Indian Oil, every $1 rise could impact EBITDA by ₹200-300 crore.
• Negative for paint, tyre, and other crude derivative users: Rising input costs will hit margins. 

Tourism Stocks, Aviation, Hotels, Travel Platforms 

Stocks linked to tourism are in focus as Dubai and other Middle Eastern countries were hit by Iranian missiles, leading to flight cancellations and airspace closures. Dubai Airport—one of the world's busiest is a major hub, and India is its largest source market (11.9 million passengers). 

• Aviation: IndiGo, SpiceJet
• Hotels: Indian Hotels and peers
• Travel proxies: Yatra, Ixigo (Le Travenues Tech).  

Gold Financiers & Jewellery: Safe-Haven Demand 

Geopolitical escalation will prompt a flight to safety. Gold and silver prices already near record levels could see buying. 

• Gold financiers: Manappuram, Muthoot Finance.
• Jewellery names: Titan, Senco, and notably Kalyan Jewellers due to its significant Middle East presence. 

Stocks With Exposure to the Middle East: L&T, KEC International  

Beyond direct Iran exports, the bigger ramification is on companies with significant Middle East presence after Iranian drones hit multiple locations. 

• Larsen & Toubro (L&T): Significant exposure to the region.
• Kalyan Jewellers, Welspun Corp, KEC International: All have won orders or have substantial operations in the Middle East. 

Other Key Stock Announcements 

These stocks may see action due to corporate developments, though broader geopolitical factors might dominate: 

• Brigade Enterprises: Launched new project with ₹1,700 crore gross development value.
• GAIL: Approved ~₹1,800 crore investment for a greenfield wind power project in Maharashtra.
• Aurobindo Pharma: Subsidiary Eugia's formulations unit in Telangana inspected by USFDA; 4 observations issued.
• Vedanta: Emerged as preferred bidder for Karnapodikonda bauxite block in Odisha. 

Conclusion 

A favourable legal ruling for Tata Steel and a strong operational update with expansion news from Eicher Motors are likely to drive stock-specific action. Simultaneously, escalating Middle East tensions will keep oil sensitives, tourism, gold financiers, and Middle East-exposed stocks highly volatile. Investors should closely monitor crude price movements and safe-haven flows. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all related documents carefully before investing.