Strides Arcolab said that the company has allotted 50,000 fully paid equity shares of Rs 10 each on conversion of employee stock options under the company's Employee Stock Option Scheme.

Consequent to the above allotment, the paid-up equity share capital of the company has increased from Rs 595,656,210 consisting of 59,565,621 equity shares of Rs 10 each to Rs 596,156,210 consisting of 59,615,621 equity shares of Rs 10 each.

Shares of the company gained Rs 7, or 0.77%, to settle at Rs 917.30. The total volume of shares traded was 50,715 at the BSE (Tuesday).