Indian equity markets experienced significant volatility, with the Nifty 50 extending its losing streak for four weeks - its longest run in five months. The index closed at 23,897.70 on Friday, rising 0.10% after four consecutive sessions of losses, but declined around 1.2% during the week. Escalating US-Iran hostilities pushed crude oil prices higher, impacting overall market sentiment and keeping the broader technical setup weak. According to Ponmudi R, CEO of Enrich Money, the 24,000–24,200 range remains the immediate resistance zone, with the 24,000 level particularly important as the index has repeatedly failed to sustain gains above the psychological mark.
Four stocks are in focus on Monday, September 7, following significant order wins and regulatory approvals announced over the weekend. Rail Vikas Nigam Ltd (RVNL) secured the largest contract with a ₹903 crore order from SJVN Thermal Private Ltd for constructing a permanent siding and aerial connection for the 1320 MW Buxar Thermal Power Project in Bihar. Mazagon Dock Shipbuilders won an ₹118 crore order from Maharashtra State Electricity Transmission Co Ltd for an AI-based comprehensive infrasecure project of five substations, to be completed in 24 months. Texmaco Rail and Engineering secured two orders worth ₹131.36 crore cumulatively, including a ₹24.48 crore order from Transport Corporation of India Ltd and a ₹106.88 crore order from Touax Texmaco Railcar Leasing Private Ltd.
Lupin received significant regulatory support with approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Modafinil tablets USP in 100 mg and 200 mg strengths. The approved drug is bioequivalent to reference listed drug Provigil tablets of Nuvo Pharmaceuticals (Ireland) DAC and is indicated to improve wakefulness in adult patients with excessive sleepiness associated with narcolepsy, obstructive sleep apnea and shift work disorder. According to reports from CNBC TV18, the Modafinil tablets had estimated annual sales of $70.7 million in the US as per IQVIA MAT July 2026. However, Lupin shares ended the previous session 1.1% lower at ₹2,107.8 apiece, declining 10.8% in the past month and trading at the flat line year-to-date.
Despite the positive developments, most stocks showed mixed performance in the previous session amid broader market volatility. RVNL shares ended 1.5% higher at ₹212.49 apiece, though the stock has declined 9% in the past month and 41.2% year-to-date. Texmaco Rail and Engineering shares gained 5.07% to ₹121.87, with the stock up 6.4% in the past month despite being down 15.3% year-to-date. Mazagon Dock Shipbuilders closed 0.4% higher at ₹2,484, though it has declined 1.2% in the past month and is up only 0.3% year-to-date. The positive order wins and regulatory approvals come as these companies navigate challenging market conditions with significant year-to-date declines across the board, with the Nifty 50 remaining below key moving averages.
The Texmaco Rail and Engineering orders include specific completion timelines with the first ₹24.48 crore order to be completed within 16 weeks from letter of intent date, while the larger ₹106.88 crore order is scheduled for completion by May 26, 2027. The company noted that it is one of the promoters of Touax Texmaco Railcare Leasing Private Ltd and confirmed the contract falls under related party transactions conducted at an arm's length basis with no conflict of interest. The mixed stock performance reflects broader market conditions affecting these infrastructure and pharmaceutical companies despite the substantial order wins and regulatory approvals announced over the weekend, with the Nifty 50 remaining under pressure from geopolitical tensions and crude oil price volatility.
