Stocks to Watch: Airtel, BPCL, NLC India cues 2026

Indian equities are set for another session of stock-specific action as investors react to a mix of legal, regulatory, fundraising, and operational updates across telecom, energy, financials, and select mid-caps. Several “stocks to watch” lists through recent sessions have highlighted recurring themes: court rulings with financial implications, government stake sales, refinery maintenance schedules, tax demands, and new business initiatives.

While the broader market setup can change quickly, the developments around Bharti Airtel, Vodafone Idea, NLC India, BPCL, and a set of other names have clear, reportable triggers that traders typically track ahead of the opening bell.

Bharti Airtel and Vodafone Idea: spectrum charge issue back in focus

Bharti Airtel and Vodafone Idea (Vi) were flagged for attention after the Bombay High Court quashed the Department of Telecom’s 2012 decision to levy a one-time spectrum charge. The update is relevant because it touches a long-running dispute that the article notes remains pending in the Supreme Court.

The ruling matters to the sector because it potentially opens a path to settle a decade-old issue, even if the final outcome will depend on what happens next in the Supreme Court. For investors, such legal developments can influence how they think about contingent liabilities and the policy overhang for telecom operators.

The mention of both Airtel and Vi in the same context also reflects how sector-wide regulatory matters tend to move stocks together, even when company fundamentals differ.

NLC India: government offer for sale announced

State-owned NLC India is in focus after the government announced an offer for sale (OFS) of up to 3 percent of its stake. According to the details provided, the government will sell up to 41.6 million shares, representing 3 percent of NLC India’s equity capital.

The OFS floor price has been set at ₹303, compared with the stock’s last closing price of ₹336 mentioned in the article. Such a discount is a key variable for near-term price action, as it may influence demand from institutional and retail bidders depending on market conditions.

For shareholders, the OFS is also a reminder that public sector disinvestment events can introduce near-term supply, even when the underlying business outlook is unchanged.

BPCL: refinery maintenance plan and excise demand order

Bharat Petroleum Corporation (BPCL) appeared in multiple news hooks.

First, BPCL plans to shut a crude unit producing 120,000 barrels per day, along with some secondary units, at its 200,000 bpd Mumbai refinery for routine maintenance. The planned shutdown window is three to four weeks during September and October.

Second, BPCL has received an excise duty demand order amounting to ₹1,816.65 crore from the Commissioner of Central Tax and Central Excise in Kochi. The article links the demand, along with interest, to valuation disputes associated with Kochi refinery operations.

Operational maintenance schedules often matter because they can affect throughput for a defined period, while tax and duty demands are watched for potential cash-flow impact and the need for disclosures, appeals, or provisions.

Bank of India: Strategic Business Branch in Mumbai

Bank of India said it inaugurated a dedicated Strategic Business Branch (SBB) in Mumbai. The stated objective is to consolidate and scale up digital and partnership-led financing businesses.

The areas specifically mentioned include pool buyouts, co-lending, the Trade Receivables Discounting System (TReDS), and supply chain finance. For investors, this is a business-line update rather than a near-term earnings datapoint, but it signals focus areas in fee and credit growth tied to partnerships and digital rails.

Airtel Money: NBFC capital infusion plan

Bharti Airtel also featured in a separate “stocks in focus” list for a capital plan linked to its non-banking financial arm, Airtel Money. As per the article, the NBFC subsidiary will be capitalised with ₹20,000 crore, to be injected over the next few years.

The funding split described is 70 percent from Airtel and 30 percent from the promoter group through Bharti Enterprises. The stated purpose is to develop a large-scale digital lending platform and widen access to formal credit.

Capital allocation announcements of this size are typically tracked for their timeline, structure, and any future regulatory steps required for scaling lending operations.

Other stocks mentioned: Grasim, RVNL, HCLTech, Waaree, Mobikwik and more

Beyond the lead names, the article lists several other stocks expected to be in focus on various trading days. These include Grasim Industries, Rail Vikas Nigam (RVNL), SpiceJet, Avantel, IRB Infra, HCLTech, and Bank of India.

It also cites corporate headlines such as Vedanta’s copper and nickel rebrand, RVNL securing a railway project, DDEL winning a BPCL contract, Grasim expanding lyocell capacity, TCS signing a Europe deal, and HCL launching an AI innovation zone. Where no figures or timelines are provided, the market impact tends to depend on follow-up disclosures.

From a later list dated Tuesday, February 24, 2026, Waaree Energies is mentioned as having received an order to supply 500 MW of solar modules from a domestic solar power developer and independent power producer. One Mobikwik Systems is also noted after its subsidiary, Mobikwik Securities Broking, received approval from BSE to commence stock broking.

Market setup noted in the report

One snapshot in the article notes that the domestic market was expected to open in the red on Tuesday, February 24, with GIFT NIFTY futures indicating the NIFTY50 could open 115 points lower. Such cues can amplify reactions to stock-specific news, particularly in high-beta sectors.

Key facts at a glance

What investors may track next

For Airtel and Vi, the next meaningful trigger implied by the article is the Supreme Court’s pending consideration of the decade-old spectrum charge issue. For NLC India, the OFS process and subscription dynamics around the ₹303 floor price versus the cited ₹336 close are immediate points to watch.

For BPCL, investors will likely track any additional details around the Kochi excise demand, including the company’s response, and operational updates as the Mumbai refinery maintenance window approaches in September and October.

Conclusion

The day’s focus list blends one-off events such as court rulings and OFS announcements with longer-cycle developments like refinery maintenance and multi-year capital plans. With several actionable datapoints already public, stock moves are likely to remain driven by how investors price these specific updates against the broader market tone.