Business

Wait for dust to settle before taking fresh bets, says Maulik Patel

Published

5 hours ago

5 March 2026

Wait for dust to settle before taking fresh bets, says Maulik Patel

Amid rising geopolitical tensions and sharp swings in global markets, investors are once again debating whether such periods of uncertainty present buying opportunities or call for caution. According to Maulik Patel from Equirus Securities patience may be the more prudent strategy in the current environment. Speaking to ET Now, Patel suggested that investors should allow a few days for developments to unfold before taking aggressive positions in the market.

“So, I would wait for a couple of days for things to settle down,” Patel said, noting that the present crisis differs in several ways from conflicts witnessed over the past two decades. “Now, this kind of crisis particularly what we are seeing today is different from let us say 10, 15, or 20 years. It is more similar to the first Gulf war in 1991 when between Iran and the coalition forces or so, but it is not that bad like what we saw in 1973 when there was an Arab embargo on the oil export to the western nations and in that case the price moved by almost 300%.”

Patel explained that during the 1991 Gulf War, oil prices had already surged months before the conflict officially began as markets anticipated the buildup of military action. “In case of 1991, the price moved double for three-four months before even the war started because there was a buildup of military assets, there was a coalition force, so market anticipated this,” he said. Once the war actually began, however, the market quickly reassessed the situation. “As soon as the war started, the price started to correct down as market realised that Saddam Hussein is losing this war.”

He believes a similar anticipatory trend has been visible in oil markets this year. “Oil started moving up already in the first or second week of January. Even if you look at a lot of passive money has moved to the oil and oil related stocks,” Patel noted. “There is an ETF in US called XLE which is up almost 22% year to date, so that reflect that kind of a money which has moved in that.”

While his base expectation is that the conflict may end relatively quickly, Patel cautioned that predicting the duration of wars is rarely easy. “Now if you ask me, the view is that the war should get over in a week. However, it is difficult to predict the duration of war,” he said. He pointed to the Russia–Ukraine conflict as an example of how initial assumptions can prove incorrect. “When the Ukraine war started, most of us believed that the war will last probably one month at max. But we are in the fifth year of the war.”

During the early months of that conflict, crude oil prices surged sharply. “When the war accelerated in month of March 2022 and April 22, the oil moved to the almost $120, $130 a barrel,” Patel recalled. Over time, however, markets adjusted as supply chains shifted and production increased. “The Russian barrel reroute from Europe to Asia particularly China and India, market stabilised. OPEC increased the production and what you saw that even the war is still going on, the oil has come down to $60 even last year.”
The current situation carries additional risks because of Iran’s strategic location. “Iran sits in the Strait of Hormuz which is 20% of the global oil demand passed through that, 20% of the world’s LNG demand pass through that,” Patel said. He also highlighted emerging disruptions in global LNG supply. “What we are seeing today Qatar which is 18% of the world’s liquefaction capacity, they have announced a force majeure. There is a real disruption is there.” Given these uncertainties, he believes investors should wait for clearer signals before turning bullish. “Probably we would like to wait for a couple of days how things are moving up and then taken a bullish view on market once we see the regime is collapsed or the attacks which are happening from the Iran getting reduced day by day and then we can make another constructive call on the market.”Turning to the debate around artificial intelligence and its potential impact on the IT services industry, Patel said the adoption of enterprise AI would still depend heavily on system integrators such as Indian IT companies. “AI without a system integrator or like Infosys, HCL that is not possible to develop in enterprise customers,” he said. While consumer AI tools are widely accessible, enterprise deployment requires deep customization. “You can have AI for retail the way you and I use the ChatGPT or Gemini or few other, but for enterprise to use it they need customised and the customisation will be done by the system integrators like Indian IT companies.”

Patel said the recent sell-off in IT stocks was not driven by immediate earnings concerns but by uncertainty about long-term profitability. “The sell off two-three weeks back is not related to the near-term earnings, it is that what would be the earning trajectory five years down the line,” he explained. In the short term, however, AI adoption could actually boost demand for technology services. “In near term, you may see earnings moves upward because there is an accelerated development of the AI across the enterprise,” he said. The bigger question remains whether AI-driven productivity gains could lead to pricing pressure over time. “What will happen to the earnings four or five year down the line, will there be a deflation in the pricing given that kind of a productivity gain delivered by the AI, so that is what the real question or the concerns among the investors.”

Despite these uncertainties, Patel believes the recent correction has made valuations in the sector more reasonable. “The valuation has become reasonable for many of the largecap and you see that rupee has depreciated by almost 2% in the last two days,” he noted, adding that this combination could attract buyers back into IT stocks. “So, we will see some kind of buying emerge at in IT stocks given that they are relatively safe in this disruption period what you see.”

Looking ahead, Patel said that if geopolitical tensions ease, investors should focus on sectors that have corrected the most. “Where we will bet obviously where the stocks have fallen the maximum,” he said. Energy companies could rebound sharply if supply routes reopen. “If the flow in the Strait of Hormuz restart, if Qatar starts LNG production obviously the one which has fallen the maximum are HP, BP, gail PLNG within the energy pack which we will like it a lot.” He also sees opportunities in high-beta manufacturing stocks. “Some of these high beta stocks like in EMS that have also fallen a lot like Dixon which can be again play on the reversal of memory prices which is again linked to the IT.”

Metals could also offer opportunities, he said, because underlying commodity prices remain relatively strong. “We may go for high beta in metal because mean metal prices are still at an elevated level. The stocks have corrected because of the leverage positions, the fear factor.” Patel also pointed to cement stocks as another potential area of interest as the sector enters its peak demand season. “Cement, now we are entering into peak cement demand season perspective and cement stocks have also corrected in anticipation and because of the higher oil price will lead to the higher petcoke prices and the higher cost for them.”

At the same time, Patel advised caution in a few segments of the market. While he does not believe in completely avoiding markets, he said certain sectors currently lack clear triggers. “There is no absolute nothing,” he remarked, but added that some pharma companies dependent on the US generics market could face competitive pressure. “We probably will avoid some of these pharma companies which are largely dependent on the US generic market because of any kind of competition they will see in some of these key drugs.” He also remains cautious on FMCG stocks due to limited earnings catalysts. “We will avoid FMCG to a certain extent given that there is no incremental earnings positive triggers are there on those one.”

Patel also flagged elevated valuations in parts of the capital goods and defence sectors. “Obviously, in capital goods some of the names are still very expensive,” he said. While defence stocks often rally during geopolitical tensions, he believes the risk-reward in some counters remains unfavourable. “Whenever the conflict start that the defence stocks make a very big move, but some of the defence names the multiples are still at a very-very elevated level, we will avoid that.”

Overall, Patel’s advice to investors is to remain patient and selective during periods of uncertainty, waiting for clearer signals before making fresh bullish bets in the market.

Business

Car insurance to loans group Admiral post record profits

Published

2 minutes ago

5 March 2026

NewsAdmin

Admiral staff, which include more than 7,000 in South Wales, will receive £1,800 of free shares on the strong trading performance in 2025

08:59, 05 Mar 2026Updated 09:12, 05 Mar 2026

Chief executive of Admiral Milena Mondini de Focatiis.(Image: Matthew Horwood)

Car insurance to loans group and Wales’ only FTSE business, Admiral, has reported a 16% surge in pre-tax profit to £957.9m. The record performance sees 13,000 staff being rewarded with £1,800 worth of free shares under the group’s employee share scheme.

The Cardiff headquartered business employs more than 7,000 in South Wales.

For its 2025 financial year group turnover came in at £5.9bn, down 1% on 2024. While it said the UK car insurance market remained softer than expected a strong focus drove what it described as “excellent results” in its core business, with profits exceeding £1bn for the first time. Its car insurance business in Europe performed well with strong growth and profitability in France and what it described as a rapid recovery in Italy. Admiral, whose other lines includes pet and home insurance, also operates in Spain.

Admiral Money saw a 24% rise in its gross loan balances to £1.46bn, while contributing £26m to overall group profit – double the amount in 2024 Over 13,000 employees will each receive free share awards worth up to £1,800 under the employee share schemes based on the full year 2025 results.

Admiral chief executive Milena Mondini de Focatiis, “2025 was an exceptional year for Admiral, reflecting the strength of our business model, our discipline and the quality of execution across the Group. We reported record profits, continued to grow our customer base and diversify our business, while maintaining momentum in how we invest and innovate.

“The group reported profit of £958m, up 16 per cent, supported by customer growth of 7%. UK Motor delivered an exceptional performance, surpassing £1bn of profit, while our other UK personal lines, Admiral Money and European Motor operations together generated nearly £100m of profit, with strong results in France and a rapid recovery in Italy.

“Our focus on customers remains central. Investment in our digital journeys, app functionality and product development continue to improve everyday experiences for customers, . This is reflected in consistently strong service outcomes.

“2025 was also a year of purposeful acceleration. We completed the integration of More Than, continued to enhance our product range and increased our investment in technology, data and artificial intelligence. We have established a GenAI Centre of Excellence to move from experimentation to scale, with early pilots showing encouraging signs of improved efficiency and enhanced customer outcomes.”

The results discount the impact of its US car insurance business, Elephant. Its acquisition by US private equity firm JC Flower was finalised last month. As part of its growth strategy Admiral last month acquired London-based digital fleet insurer Flock in a £80m deal

On the outlook the chief executive said: “As we refresh our strategy, our focus is on compounding Admiral’s strengths in data, technology, diversified products and operational excellence to drive greater efficiency, stronger customer retention and long‑term value creation, particularly through multi‑product relationships. Our strong financial position also provides flexibility to continue investing in the business and support future shareholder returns.

“At the start of 2026, we announced that Geraint Jones will retire as Group chief finance officer this summer. Geraint has made an outstanding contribution to Admiral and played a central role in shaping Admiral’s performance and culture. I am pleased he will continue to support the group in a part-time role, and I look forward to working with Rachel Lewis, who will become group CFO on July 1, bringing deep business knowledge, leadership and a proven track-record of delivery.

“Admiral enters the next phase of its strategy in a position of strength. Our culture, people and disciplined approach remain central to everything that we do and I would like to thank our colleagues across the Group for their continued commitment to our customers and to each other.”

Business

Gas price cut for some Firmus Energy customers

Published

9 minutes ago

5 March 2026

NewsAdmin

Gas price cut for some Firmus Energy customers

Gas prices in the Ten Towns area will fall by just over 10% in April.

Business

Panel approves $30m lifestyle village and short stay in Capel

Published

16 minutes ago

5 March 2026

NewsAdmin

Ocean Gardens to build $30m village in Capel

An over 55s lifestyle village and short stay accommodation project in the South West is closer to fruition after an assessment panel approved the $30 million proposal.

Business

Ocean Gardens to build $30m village in Capel

Published

24 minutes ago

5 March 2026

NewsAdmin

Ocean Gardens has cleared a planning hurdle after an assessment panel approved its $30 million lifestyle village plan in the South West.

Business

Cicor Technologies shares 9% below price target after mixed 2025 results

Published

31 minutes ago

5 March 2026

NewsAdmin

Cicor Technologies shares 9% below price target after mixed 2025 results

Business

Dow Falls 400 Points, Shedding Nearly 1,000 Points in 3 Days

Published

38 minutes ago

5 March 2026

NewsAdmin

Stocks Little Changed After Fed Decision

The Dow Jones Industrial Average fell sharply for a third day in a row on Tuesday, but the major indexes finished well off their lows as another oil price spike eased.

The Dow fell 404 points, or 0.8%. The index has fallen about 1,000 points since its close on Thursday. The S&P 500 dropped 0.9%. The Nasdaq Composite slid 1%.

WTI crude oil futures rose 4.7% to $74.56 a barrel, while Brent crude oil futures were up 4.7% to $81.40. Brent crude futures have risen 15% in the past three sessions, which is their largest three-day percent gain since the span that ended March 21, 2022.

Business

Trump Orders Tanker Insurance and Escorts as Oil Surges

Published

53 minutes ago

5 March 2026

NewsAdmin

Trump Orders Tanker Insurance and Escorts as Oil Surges

Business

Most Restaurants Grow Sales by Raising Prices. These 3 Relied on Foot Traffic.

Published

60 minutes ago

5 March 2026

NewsAdmin

Most Restaurants Grow Sales by Raising Prices. These 3 Relied on Foot Traffic.

Business

RFK Jr criticized for questioning safety of high-sugar Dunkin’, Starbucks drinks

Published

1 hour ago

5 March 2026

NewsAdmin

RFK Jr criticized for questioning safety of high-sugar Dunkin', Starbucks drinks

HHS Secretary Robert F. Kennedy Jr. discusses efforts to phase out petroleum-based synthetic dyes in the nation’s food supply on ‘Jesse Watters Primetime.’

Health Secretary Robert F. Kennedy Jr. ignited widespread backlash online after questioning whether high-sugar iced coffee drinks sold at Dunkin’ and Starbucks are safe – and the governor of Massachusetts was among the pushback.

Kennedy said during an “Eat Real Food” rally in Austin, Texas, on Feb. 26, “We’re going to ask Dunkin’ Donuts and Starbucks, ‘Show us the safety data that show that it’s OK for a teenage girl to drink an iced coffee with 115 grams of sugar in it.”

“I don’t think they’re gonna be able to do it,” he added.

The remarks quickly drew a response in Massachusetts, where Dunkin’ was founded and is considered a cultural staple.

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Health and Human Services Secretary Robert F. Kennedy Jr. raised concerns about sugary beverages during an Austin, Texas, rally on Feb. 26, 2026. (Jason Mendez/Getty Images; iStock / Getty Images)

Massachusetts Gov. Maura Healey took to X on Wednesday to defend the iconic New England beverage, posting an image of a flag displaying the slogan, “Come and take it.”

While some users on X criticized Healey, arguing that she should promote healthier food standards, others rallied behind the governor amid concerns the administration could target their favorite drinks.

“Maybe this regime needs to remember we take drinks VERY SERIOUSLY in New England,” one user wrote, alongside an image depicting the 1773 Boston Tea Party.

Others swapped the “Don’t tread on me” motto with, “Donut tread on me.”

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New Dunkin' ad creates backlash on TikTok

Health Secretary Robert F. Kennedy Jr. referenced Dunkin’ while discussing potential scrutiny of high-sugar beverages. (Paul Weaver/SOPA Images/LightRocket via Getty Images / Getty Images)

The Department of Health and Human Services did not immediately respond to FOX Business’ request for comment on whether the administration plans to carry out its demands and restrict beverages at Dunkin’ or other coffee chains.

Dunkin’ and Starbucks did not immediately respond to FOX Business’ request for comment.

MAHA Action, a nonprofit organization dedicated to the “Make America Healthy Again” movement, said in a statement after the event that Kennedy announced the closure of a loophole in the “Generally Recognized As Safe” (GRAS) food ingredient approval program, a long-standing regulatory pathway that allows companies to self-certify certain ingredients as safe.

“Companies including Dunkin’ Donuts and Starbucks will be required to produce safety data they were supposed to have maintained. The reforms aim to ensure American foods follow the highest safety and nutritional standards globally,” the group said.

Health and Human Services Secretary Robert F. Kennedy Jr. suggested that companies such as Dunkin’ and Starbucks may need to demonstrate the safety of certain high-sugar drinks under stricter federal scrutiny. (Zhang Peng/LightRocket via Getty Images / Getty Images)

Kennedy began pushing to reform the GRAS system soon after his appointment and confirmation, according to The Boston Globe, which noted that the category was created so companies would not have to apply for approval to use common ingredients.

However, over time, the system has expanded to include thousands of new ingredients, including those used in ultra-processed foods, the newspaper reported.

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The renewed focus on sugary beverages comes as Kennedy has launched a broader effort to overhaul the nation’s food supply.

Business

DOT approves American Airlines flights to Venezuela after 5 years

Published

1 hour ago

5 March 2026

NewsAdmin

DOT approves American Airlines flights to Venezuela after 5 years

American Airlines launches luxury amenity kits with Joanna Vargas skincare and Bollinger Champagne service.

American Airlines is set to resume nonstop flights to Venezuela after the U.S. Department of Transportation (DOT) approved the carrier’s request Wednesday, making it the first U.S. airline to restore service between the two countries since 2019.

The airline told FOX Business the flights will be operated by Envoy, a wholly owned subsidiary of American Airlines, with nonstop service from Miami to Caracas and Maracaibo, Venezuela.

The approval follows President Donald Trump’s January directive to reopen commercial airspace over Venezuela after the Federal Aviation Administration issued an emergency order barring U.S. civil flight operations in the country’s airspace. Transportation Secretary Sean Duffy later rescinded the order at the president’s direction.

Trump asked the DOT to lift the restrictions following a discussion with Venezuela’s acting president, Delcy Rodríguez.

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American Airlines plane departs Los Angeles

American Airlines is set to resume nonstop service between Miami and Venezuela after the U.S. Department of Transportation approved the carrier’s request on March 4, 2026, marking the first time a U.S. airline has restored flights to the country sinc (Kevin Carter/Getty Images / Getty Images)

The Transportation Security Administration was in Caracas last week reviewing airport security procedures, a necessary step to resume flights, sources told Reuters.

The airline announced in late January that it intended to reconnect with Venezuela, just weeks after the U.S. conducted strikes in the country and captured dictator Nicolás Maduro.

“We have a more than 30-year history connecting Venezolanos to the U.S., and we are ready to renew that incredible relationship,” Nat Pieper, American’s Chief Commercial Officer, said in a statement at the time. “By restarting service to Venezuela, American will offer customers the opportunity to reunite with families and create new business and commerce with the United States.”

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The U.S. Department of Transportation approved American Airlines’ request to operate flights to Caracas and Maracaibo, Venezuela, following the lifting of a yearslong restriction on U.S. carriers. (DANIEL SLIM/AFP via Getty Images)

American began operating in Venezuela in 1987 and was the largest U.S. airline in the country before all air service was suspended in 2019.

The DOT said the order is valid for two years.

An American Airlines passenger plane is parked at a gate at Ronald Reagan Washington National Airport on August 24, 2025, in Arlington, Virginia. (DANIEL SLIM/AFP / Getty Images)

In December, the State Department added Venezuela to its “Do Not Travel” advisory list, which remains in effect.

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FOX Business has reached out to the Department of Transportation and the State Department for comment.

FOX Business’ Daniella Genovese and Reuters contributed to this report.