MUMBAI:TV Today Network plans to buy back shares up to five per cent and free reserves aggregating approximately Rs 230 million.

The board of directors of TV Today Network will meet on January 29 to consider this as well as the unaudited financial results for the quarter ended 31 December 2006.

The scrip hit a high of Rs 110.45 and a low of Rs 98 on Wednesday. It gained 4.88 per cent to close the day at Rs 103.20.