New Delhi, March 26 -- Geopolitics is back at the centre of markets-and it's already moving prices. As the war in West Asia intensifies, oil is climbing, risk appetite is wobbling, and governments are quietly stepping up defence spending. If past conflicts are any guide, prolonged uncertainty doesn't just rattle markets, it accelerates military budgets.

That shift tends to outlast the headlines. And for investors, it puts the defence sector squarely in focus.

If the Iran conflict drags on, here are five Indian defence names that merit a close watch.

Bharat Electronics Ltd (BEL) sits at the heart of modern, electronics-led warfare. From radars and communication systems to electronic warfare and naval solutions, its portfolio cuts across...