DEN Networks surged as a media report said that RIL is in talks to buy the company.
Cable television co DEN Networks Ltd surged as much as 12.7 per cent in its biggest intraday pct gain since April 18.
Reliance Industries is in talks to buy the company, a media report said, citing two highly placed sources with direct knowledge of the development.
DEN is looking at a valuation between Rs 2,000 crore ($305.09 million) to Rs 2,200 crore, the report added.
Both companies were not immediately available for comments. Reliance has been keen to expand into cable TV distribution business after winning a licence from the government in 2015.
Up to Tuesday's close, DEN Networks shares had risen 30.5 per cent this year. RIL shares were down 0.9 per cent.