Shares in Eros International Media Ltd rise as much as 10.1 percent to their highest since November 2011.
Eros acquires the worldwide rights on 10 shows from Zee TV. Terms of the deal not disclosed.
"The deal is positive for Eros as it adds a significant value to the company's offerings," said an institutional analyst with a foreign brokerage.
Eros shares up 8.1 percent at 245.30 rupees at 0501 GMT.
Zee Entertainment Enterprises Ltd shares rise as much as 1.6 percent.