Leading private broadcaster, New Delhi Television Ltd (NDTV) has announced to buy back 26 per cent shares in the another media firm NBC Universal through its subsidiary NDTV Networks Plc.

The move is aimed to strengthen its position in the highly competitive media market. NBC Universal had brought 26 per cent stakes in NDTV under a strategic partnership deal in May.

However, NDTV Networks Plc, the holding company of the non-news business of the broadcaster, is yet to divulge the financial details of the transaction.

Shares of the media firm NDTV surged 2.86 per cent on the Bombay Stock Exchange to Rs 162 during the first half hour of trading.