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The 30-share BSE Sensex surged 635 points or 0.89 per cent to trade at 71,822, while the NSE Nifty was up 169 points or 0.79 per cent to trade at 21,631.
TV18 Broadcast had posted a net profit of Rs 37.81 crore in the October-December period of the preceding fiscal, the company said in a regulatory filing. TV18 Broadcast's total expenses were up 5.2% to Rs 1,907.28 crore in the December quarter.
Among those who approached the Court include India Today's Aroon Purie, Network18's Adil Zainulbhai, Times of India, Amar Ujala and senior journalists like Faye D'Souza.
TV18 Broadcast and e-Eighteen.com Ltd will be merged with Network18, the companies said through separate exchange filings. Following this, shares of both companies plunged in trade on Thursday.
On December 1, three stocks within the smallcap pack witnessed a decrease in their closing prices below 3% compared to the VWAP.