The bull run in Reliance Power shares continued on Tuesday as the counter jumped 5 per cent to hit the upper circuit for the 4th day in a row. Reliance Power is owned by Anil Ambani. Reliance Power shares opened at a new 52-week and day's circuit at Rs 40.

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 share price was locked in the 5 per cent upper circuit at Rs 40.06 per share on the BSE. The stock also reached its 52-week high on Tuesday

Reliance Power shares surged 5% after the company announced a preferential issue of equity shares worth Rs 1,524.60 crore, aimed at strengthening its financial position and expanding into renewable energy.

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 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.

The rally in the company's shares follows the announcement of a board meeting scheduled for September 23, 2024, to discuss a significant fundraising proposal.

The stock hit its 5 per cent upper circuit limit at Rs 40.06. With this, the stock is up 35.48 per cent in nine sessions and 67 per cent in 2024 so far.