It would benefit 11 lakh employees and would cost the exchequer Rs 2,024 crore, said Union Minister Prakash Javadekar.
The 30-share index ended 82.79 points, or 0.23 per cent, higher at 36,563.88.
In line with gold, silver prices also declined by Rs 770 to Rs 47,690 per kilogram.
Petrol price was increased by 25 paise per litre to Rs 72.42 and diesel by 24 paise to Rs 65.82 in the Delhi market.
The acquisition was pursuant to a scheme of arrangement not directly involving Reliance, the filing said without giving details.
The announcement has come just ahead of the festive season sales and would positively impact the sales of LED TV panels.
Economic growth hit over six-year low of 5 per cent for the first quarter ended June 2019 mainly driven by demand slowdown.
Rupee is trading at 71.43 against dollar as gains in domestic equity market and easing crude prices strengthened investor sentiments.
The 30-share index was trading 186.94 points, or 0.51 per cent, higher at 36,668.03.
Last week, the government announced a slew of measures to boost exports and the real estate sector.