Reliance Power shares have hit back-to-back upper circuits for the past 11 sessions, rallying 70.8 per cent. On Thursday, the Anil Ambani stock zoomed 5 per cent to trade at the upper limit of the day at Rs 53.

Reliance Power recently made a strategic move by allotting a massive amount of 46.20 crore equity shares, which are valued at a sky-high Rs 1,524.60 crore.

Reliance Power share price was locked in the 5% lower circuit today after scaling a one-year high on Friday. The stock has risen 80% in the last one month and delivered multibagger gains of 170% in the last one year.

Reliance Power said the FCCBs would be convertible into 82.30 crore equity shares of Rs 10 apiece at the conversion price of Rs 51, including a premium of Rs 41 per equity share.

The stock was hitting 5% upper circuit for the past 12 sessions, while it maintained an uptrend since September 12, rising 72% during the same period.

Reliance Power share price gained 5% in morning trades to hit upper circuit. Having risen 110% in a year has given Multibagger returns to investors. Approves preferential allotment of shares worth ₹15

Reliance Power shares have shown strong performance across multiple time frames, delivering a 10.64% return in the past month and a 38.22% increase over six months. Year-to-date, the stock has surged 59.

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On October 2, 2024, Anil Ambani-run Reliance Group announced a significant partnership with Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan, to enhance the renewable energy landscape in the country.

Shares of Reliance Power jumped to a new 52-week high after the company announced a partnership with Bhutan's Druk Holding to develop large solar and hydroelectric projects.