New Delhi, Dec. 3 -- The perception of safety in stock markets varies widely depending on the investor's risk tolerance, investment horizon, and market conditions.

Safe investing often means managing risk through diversification, proper entry points, and a margin of safety rather than an absolute guarantee of no loss.

As the Sensex and the Nifty hit new peaks, it's best to look at stocks that can potentially offer protection during downturns.

These stocks usually have a dominant position in their industry or are virtual monopolies. Here are four such companies, with strong dominance in their industry.

Investors should note that this is neither a fundamental analysis nor a recommendation on these stocks.

IRCTC is a public sector under...