Reliance Power stock rose 5% to Rs 46.36 in early deals against the previous close of Rs 44.16 on BSE. The stock is trading in the green for the last 12 sessions.

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

One block deal was executed before the market opened and the others at the start of trading, with Reliance Power shares being transacted at a price of Rs 43.75 per share.

Reliance Power shares have shown strong performance across multiple time frames, delivering a 48.99% return in the past month and a 67.63% increase over six months. Year-to-date, the stock has surged 98.

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.

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.

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.