Key Indian Stocks to Watch: Lupin, BPCL, and Bharti Airtel Poised for Action on February 24, 2026

Key Indian Stocks to Watch: Lupin, BPCL, and Bharti Airtel Poised for Action on February 24, 2026

The Indian stock market is abuzz as three major players – Lupin, Bharat Petroleum Corporation Ltd (BPCL), and Bharti Airtel – command investor attention on February 24, 2026. This comes as the Nifty 50 and Sensex navigate a consolidation phase, influenced by global geopolitical developments and crucial domestic data. The Reserve Bank of India (RBI) has maintained a neutral stance with the repo rate at 5.25%, signaling a prolonged pause into FY2026-27 and emphasizing liquidity management amidst a robust FY26 GDP growth forecast of 7.4%. Meanwhile, new SEBI regulations for stock brokers and mutual funds, effective January and April 2026 respectively, are enhancing transparency and governance across the Indian securities market.

The Catalyst

Lupin is in the spotlight following its significant announcement of receiving European Commission approval for its biosimilar ranibizumab, Ranluspec. This crucial approval paves the way for commercialization by Sandoz across the European Union, excluding Germany, with France seeing dual commercialization by Sandoz and Biogaran. This development marks a pivotal moment for Lupin, strengthening its position in the competitive biosimilar market.

BPCL continues to ride the positive sentiment from the Union Budget 2026, which provided critical policy relief for Oil Marketing Companies (OMCs) by maintaining excise duties on petrol and diesel. This move has buoyed the stock, which had already seen a 62% year-on-year increase in consolidated net profit for Q3 FY26, reaching ₹7,545 crore. The company also declared an interim dividend of ₹10 per share. However, investors will be closely watching the latest development of a significant tax demand of ₹1,816.65 crore from the Commissioner of Central Tax and Central Excise, Kochi, which BPCL intends to challenge.

Bharti Airtel is making headlines with its ambitious plan to infuse ₹20,000 crore into its Non-Banking Financial Company (NBFC) arm, Airtel Money. This substantial capital injection, where Airtel will contribute 70% through its promoter group and the remaining 30% from external sources, aims to rapidly expand digital financial services across India. Airtel Money recently secured its NBFC license from the RBI on February 13, 2026, setting the stage for aggressive growth in the digital lending space.

Financial Forensics

FinScann analysis reveals robust underlying financial narratives for these key stocks:

Lupin: The pharmaceutical major delivered Q3 2026 earnings that saw revenues surpass analyst expectations. It has shown remarkable stability and growth, outperforming both the broader Indian Pharmaceuticals industry (which returned 5.5% over the past year) and the overall Indian Market (which returned 10.9%). Lupin’s stock recently hit a new 52-week high of ₹2,261.95 on February 17, 2026, driven by strong fundamentals. The company reported an impressive annual net sales growth of 11.42% and an operating profit margin of 33.60%.

BPCL: The oil marketing giant's Q3 FY26 performance saw consolidated net profit surge to ₹7,545 crore, significantly exceeding estimates. This financial strength, coupled with favorable policy winds from the Union Budget 2026, has led to a stock rally of over 6.5% since February 1, 2026. Despite the recent tax demand, HDFC Securities has upgraded BPCL to a 'BUY' rating with a target price of ₹455, anticipating healthy integrated margins.

Bharti Airtel: The telecom behemoth closed at ₹1,997 on February 23, 2026, with a market capitalization exceeding ₹11.38 trillion. The company's derivatives segment witnessed an 11.47% increase in open interest on February 23, 2026, signaling heightened investor engagement and potential directional moves. While shorter-term technical indicators suggest some consolidation, the stock continues to trade above its 200-day moving average, a strong bullish indicator for the long term. Its P/E ratio of 36.68 is in line with the industry average, indicating a fair valuation within the sector.

Here's a comparison of key metrics (as of February 23, 2026):

Company	Market Capitalization (₹ Crore)	Last Traded Price (₹)	Q3 FY26 Net Profit (₹ Crore)	YTD Performance (2026)	Key Development
Lupin	1,03,000	2,241.40	1,175.5 (Q3 Dec 2026)	+7%	European Commission approval for biosimilar Ranluspec
BPCL	1,61,175	372.55	7,545 (Q3 FY26)	N/A (Rallied >6.5% since Feb 1)	Budget relief, ₹10/share dividend, but faces ₹1,816.65 Cr tax demand
Bharti Airtel	11,38,000	1,997	N/A	-5.37%	₹20,000 Cr capital infusion in NBFC arm, Airtel Money

Source: NSE, BSE, Company Filings, FinScann Research

Market Impact

The significant developments surrounding these three stocks are likely to inject targeted volatility and directional moves within their respective sectors and potentially the broader market. Lupin's European approval underscores the growing strength of India's pharmaceutical exports and biosimilar capabilities, which could positively influence other pharma stocks. BPCL's tax demand, while substantial, is expected to be challenged, limiting immediate negative impact but requiring close monitoring. Its overall positive outlook from the budget and strong Q3 results could lend support to the OMC sector. Bharti Airtel's massive investment in its NBFC arm highlights the burgeoning opportunities in India's digital financial services, potentially boosting sentiment for fintech and telecom players exploring similar diversification. The Nifty 50 is expected to consolidate within the 25,400-25,900 range, with DII buying providing a cushion against global uncertainties.

Key Takeaways

• Lupin: European market entry for Ranluspec is a significant long-term growth driver, diversifying revenue streams and validating R&D capabilities.
• BPCL: Favorable government policy and strong quarterly performance underpin its value, but the large tax demand introduces a near-term overhang that bears careful observation.
• Bharti Airtel: Strategic pivot into digital financial services via a massive capital infusion could unlock new growth avenues and increase customer stickiness, albeit with execution risks.
• Broader Market: Indian equities, particularly Nifty, are in a consolidation phase. Investors should focus on fundamentally strong stocks with clear growth catalysts, especially with the RBI maintaining its neutral stance.

FinScann Verdict

FinScann views these three companies as strategically positioned within their sectors. Lupin’s global expansion into biosimilars signals strong innovation and market potential. BPCL, despite the tax challenge, benefits from a supportive policy environment and robust operational performance. Bharti Airtel's bold move into digital finance is a calculated risk with substantial long-term upside, leveraging its vast customer base. For investors, a diversified approach combining exposure to these high-potential plays, with a keen eye on their specific catalysts and any emerging headwinds, is prudent.

What is a 'Moat' in investing? A: In investing, a "moat" refers to a sustainable competitive advantage that allows a company to protect its long-term profits and market share from competing firms. This could be due to factors like strong brand identity, proprietary technology, network effects, high switching costs for customers, or significant cost advantages.

How do RBI's stable interest rates affect the Indian stock market? A: The RBI's decision to keep the repo rate stable at 5.25% generally provides a predictable economic environment. This stability can encourage corporate investments and borrowing due to consistent lending rates, supporting economic growth. However, a prolonged pause also means no immediate stimulus from rate cuts, leading to a focus on other growth drivers and liquidity management by the central bank.

What are the implications of SEBI's new Stock Brokers Regulations 2026? A: The SEBI (Stock Brokers) Regulations, 2026, which came into effect on January 7, 2026, aim to create a more robust and transparent framework for stockbrokers and clearing members in India. This includes clearer rules for registration, operational obligations, risk management, and investor grievance redressal. The implications are increased compliance requirements for brokers, enhanced investor protection, and a more streamlined yet stringent regulatory landscape.

Why is Bharti Airtel investing heavily in its NBFC arm, Airtel Money? A: Bharti Airtel's significant investment of ₹20,000 crore in Airtel Money, its NBFC arm, is a strategic move to tap into India's rapidly expanding digital financial services market. By leveraging its vast subscriber base and robust digital infrastructure, Airtel aims to offer a wider array of financial products like lending, thereby diversifying its revenue streams beyond traditional telecom services and enhancing customer stickiness. This move positions it as a key player in financial inclusion.

What is the significance of Lupin's biosimilar approval in Europe? A: Lupin receiving European Commission approval for its biosimilar ranibizumab, Ranluspec, is highly significant as it allows the company to commercialize a complex biologic product in a major global market. This approval validates Lupin's R&D capabilities in biosimilars, opens up a new and potentially lucrative revenue stream, and strengthens its competitive standing against innovator drugs, ultimately boosting its global pharmaceutical presence.

Disclaimer: For information only; not investment advice. Stock market investments carry risks. Please consult a SEBI-registered advisor before investing. FinScann assumes no liability for decisions made based on this report.