Deccan Gold Mines, the first private sector gold exploration company in India, witnessed a sharp rise in share price on Thursday on company's plans to commence drilling operations in Karnataka through Deccan Exploration Services Private (DESPL), its subsidiary by third week of December, 2015.

The proposed drilling program would be carried out by South West Pinnacle Exploration with whom DESPL has entered into a drilling services agreement.

Shares of Deccan Gold Mines are trading at Rs 32.65, up Rs 2.95, or 9.93% at the Bombay Stock Exchange (BSE) on Thursday at 12:48 p.m.

The scrip has touched an intra-day high of Rs 32.65 and low of Rs 29.55. The total volume of shares traded at the BSE is 251,819.