Premier Explosives (PEL), engaged in the manufacturing of explosives and accessories, witnessed a sharp rise in share price on Wednesday after receiving Industrial License vide License dated Jul. 7, 2015 from the Department of Industrial Policy and Promotion (DIPP).

This license is used for the military fuses of all types including filling and assembling; munition 20 mm and above including filling and assembling; war heads of all types including filling and assembling at Peddakandukur, Yadagirigutta Mandal, district-Nalgonda, in the state of Telangana.

Shares of the company are trading at Rs 337.50, up Rs 46.3, or 15.90% at the Bombay Stock Exchange (BSE) on Wednesday at 1:37 p.m.

The scrip has touched an intra-day high of Rs 337.50 and low of Rs 285.10. The total volume of shares traded at the BSE is 238,900.