Polaris Financial Technology announced that the stakeholders' relationship committee of directors has approved the allotment of 25,200 shares to eleven associates under ASOP 2003 scheme. The  committee has also approved for the allotment of 7,250 shares to seven associate(s) under ASOP 2011 scheme, vide circular resolution.

Shares of the company declined Rs 4.65, or 2.11%, to settle at Rs 215.60. The total volume of shares traded was 125,739 at the BSE (Tuesday).

The stock had outperformed the market over the past one month till Aug. 18, 2014, rising 20.65% compared with the Sensex`s 2.92% rise. It underperformed the market in past one quarter, gaining 7.06% as against 9.41% rise in the Sensex.