Balaji Telefilms, a television and film production company, witnessed a sharp rise in share price on Wednesday after the company's board approved demerger of its film production unit Balaji Motion Pictures and amalgamation of Bolt Media.

"The demerger of the film production undertaking of Balaji Motion Pictures into Balaji Telefilms will enable consolidation of the film production business of Balaji Motion Pictures with Balaji Telefilms," the company said. 

Shares of Balaji Telefilms  are trading at Rs 99.10, up Rs 8.95, or 9.93%  at the Bombay Stock Exchange (BSE) on Wednesday at 12:10 p.m.

The scrip has touched an intra-day high of Rs 103.00 and low of Rs 98.00. The total volume of shares traded at the BSE is 512,430.

Total volume of shares traded on the bourses today was higher by 1,448.00% to 3,232,138 compared with 22-day average volume of 208,794.