Polaris Financial Technology announced that the shareholders' committee of directors has approved the allotment of 300 shares to one associate under ASOP 2011 scheme vide circular resolution.

The stock had outperformed the market over the past one month till Mar. 18, 2014, rising 20.65% compared with the Sensex's 5.81% rise.

It outperformed the market in past one quarter, gaining 7.06% as against 4.66% rise in the Sensex.

Shares of the company gained Rs 30.55, or 19.99%, to trade at Rs 183.35. The total volume of shares traded was 3,223,017 at the BSE (2.35 p.m., Wednesday).