Granules India said that the share transfer and stakeholders relationship committee has approved to allot 40,000 equity shares in consequent to exercise of options under ESOP 2009.

The stock had underperformed the market over the past one month till Aug. 28, 2014, falling 17.02% compared with the Sensex's 2.49% rise. It outperformed the market in past one quarter, gaining 18.90% as against 8.48% rise in the Sensex.

Shares of the company gained Rs 41.4, or 5.67%, to settle at Rs 771.90. The total volume of shares traded was 85,255 at the BSE (Monday).