Shares of Grasim Industries rose as much as 5.1 per cent to Rs 1,024.45, highest since October 10.
US index provider MSCI had added the company to its Emerging Markets index on Thursday.
About 1.9 million shares changed hands within the first 30 minutes of trade, around twice its 30-day average
The stock has gained 43.3 per cent over the past year till Thursday's close, outperforming the NSE index's 21.7 per cent jump during the same period.