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.

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 recently announced that it has cleared all its debt with banks and financial institutions, achieving zero debt as of June 30. Its net worth stands at Rs 11,155 crore on a consolidated basis.

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.

Anil Ambani-owned Reliance Power share price has been on an uptrend since the Anil Dhirubhai Ambani Group (ADAG) company declared a board meeting date to consider and approve the fundraising proposal.

Reliance Power shares hit the 5 percent upper circuit for the eighth consecutive session, driven by key contract wins and favorable corporate developments.

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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.