Shares of drugmaker Lupin rose by almost 2 per cent after the stock became part of the BSE benchmark Sensex from on Monday.
The stock gained 1.91 per cent to Rs 1,851.15 at BSE.
On NSE, it climbed 1.86 per cent to Rs 1,850.75.
Lupin replaced private sector electricity producer Tata Power.
Shares of Tata Power fell 0.76 per cent to Rs 71.60 at BSE but later recovered the lost ground and was trading 0.35 per cent higher at Rs 72.40.
Since May 22, when the announcement was made by BSE, shares of Tata Power had lost nearly 5 per cent, while Lupin gained 4.6 per cent.
Meanwhile, in the stock market, the Sensex was trading with a sharp gain of 313.33 points at 27,629.50.