The company made the announcement after market hours on Monday, 16 September 2013.

Meanwhile, the BSE Sensex was down 51.54 points, or 0.26%, to 19,690.93.

On BSE, 1,035 shares were traded in the counter compared with average volume of 34,374 shares in the past one quarter.

The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 47.55 so far in the day.

The stock hit a 52-week high of Rs 52.65 on 25 September 2012. The stock hit a record low of Rs 23.30 on 28 March 2013.

The stock had outperformed the market over the past one month till 16 September 2013, rising 9.82% compared with the Sensex's 6.15% rise. The scrip had also outperformed the market in past one quarter, gaining 62.08% as against Sensex's 2.94% rise.

The small-cap company has an equity capital of Rs 39.73 crore. Face value per share is Rs 5.

Reliance Broadcast Network said that its board of directors will meet on 18 September 2013 to consider delisting of equity shares of the company from the stock exchanges.

On a consolidated basis, Reliance Broadcast Network reported a net loss of Rs 15.76 crore in Q1 June 2013, lesser than the net loss of Rs 28.70 crore in Q1 June 2012. Net sales rose 22% to Rs 57.46 crore in Q1 June 2013 over Q1 June 2012.

Reliance Broadcast Network is a media entertainment conglomerate with play across radio, television, intellectual properties, and television production. It is part of the Anil Dhirubhai Ambani-controlled Reliance Group and specializes in creating and executing integrated media solutions for brands.