Why These Stocks Are Rising and Falling Today: New India Assurance, IFCI, Tejas Networks Gain; KEI Industries, RR Kabel, Polycab Decline

Indian equity markets traded higher on Friday, September 4, amid gains across global equities as concerns over further interest rate hikes eased following dovish comments from the U.S. Federal Reserve official.

As of 12:00 PM, the Sensex rose 660.04 points, or 0.87%, to 76,812.90, while the Nifty 50 gained 105.90 points, or 0.44%, to trade at 23,979.35.

Among sectors, the Nifty Financial Services index emerged as the top gainer. In contrast, the Nifty Consumer Durables and Nifty Pharma indices were among the biggest decliners.

Top Gainers for September 4: New India Assurance, IFCI and Tejas Networks Gain Up to 12%

1. New India Assurance Rises 12%

New India Assurance Company Ltd emerged as the top gainer in the Nifty 500 index on September 4, 2026.

The shares rose 12% on September 4. At 12:00 PM, the stock was trading at ₹219.10, reflecting a gain of 12.17% from its previous close.

Volumes also remained strong at 1,198 lakh shares, compared with its 30-day average of 450 lakh shares.

The rally was supported by developments around the NSE IPO. New India Assurance Company Ltd holds a direct stake of about 1.42% in NSE and plans to offload up to 1.05 crore shares through an offer for sale (OFS).

2. IFCI Rises 12% and Hits 52-Week High

IFCI Ltd shares rose over 11% and hit a fresh 52-week high on September 4, 2026.

At 12:00 PM, IFCI's share price was trading at ₹107.17, reflecting a gain of 11.74% from its previous close of ₹95.91.

Volumes also surged to 1,720 lakh shares, compared with its 30-day average of 530 lakh shares.

The rally also came following unconfirmed market reports that the long-awaited National Stock Exchange (NSE) IPO could launch as early as this month.

The company holds an indirect stake in NSE through its 52% ownership of Stock Holding Corporation of India Ltd (SHCIL), which in turn owns a 4.4% stake in NSE.

3. Tejas Networks Gains 7%

At 12:00 PM, Tejas Networks Ltd share price was trading at ₹609.55, reflecting a gain of 7.42% from its previous close of ₹567.45. During the session, the stock made an intraday high of ₹619.95.

Volumes also remained strong at 1,500 lakh shares, compared with its 30-day average of 364 lakh shares.

On August 31, the company announced that it had received a letter of intent (LoI) worth ₹1,537 crore from Tata Consultancy Services Ltd (TCS) for the supply of radio access network (RAN) equipment and accessories for Bharat Sanchar Nigam Ltd's (BSNL) 4G mobile network.

Top Losers for September 4: KEI, RR Kabel and Polycab Fell Up to 8%

1. KEI Industries Falls 8%

KEI Industries Ltd emerged as the top loser in the Nifty 500 index on September 4, 2026. The stock was trading at ₹4,899.50, reflecting a fall of 8.03%.

The fall came amid weakness across the wires and cables sector after the Aditya Birla Group announced the launch of its wires and cables business, Ultravolt, on Thursday, backed by an investment of ₹1,800 crore.

2. RR Kabel Falls 7%

RR Kabel Ltd also emerged as one of the top losers in the Nifty 500 index. The stock fell 7.25% and was trading at ₹2,428 at 12:00 PM.

3. Polycab Also Falls 5%

Polycab India Ltd shares also fell 5.17% and were trading at ₹8,352 at 12:00 PM.

The fall also came after the Aditya Birla Group entered India's wires and cables market with an investment of ₹1,800 crore through UltraTech Cement. The group has launched the Ultravolt brand along with a manufacturing facility in Gujarat.