- By Aditya Pratap Singh
- Fri, 27 Sep 2024 11:22 AM (IST)
- Source:JND
Reliance Power Share Price: The shares of Anil Ambani's Reliance Power surged to hit the upper circuit for the eighth consecutive session on Friday amid a flat movement in the benchmark index on Friday. Reliance Power Share price climbed 5% to reach at Rs 46.36 level in early deals, compared to its previous BSE close of Rs 44.16. The power stock has been trading in the green for the past 12 sessions.
After being followed the downward trend for a while the multi-bagger stock has been on a massive rally for the past two weeks. On September 16, Reliance Power stock hit the 5% upper circuit after it received a large order in the renewable energy sector. The company said it had secured a large 500 MW/1,000 MWh battery storage contract from the Solar Energy Corporation of India. The deal positions Reliance Power as a key player in one of the world's largest independent battery energy storage projects.
Reliance Power shares have shown strong performance over various time frames, delivering positive returns. The stock climbed 48.99% last month, reflecting its stability and growth potential. It has climbed by an impressive 67.63% in the last six months, indicating a strong upward trend.
Reliance Power Share Price Performance
Year-to-date, Reliance Power shares have climbed 98.93%, highlighting the stock's continued momentum during the current fiscal year. The stock has returned a notable 141.41% over the last twelve months, underscoring its sustained growth and appeal to investors.
The company faced a challenge earlier this year when market regulator Sebi banned Anil Ambani from the securities market for five years for allegedly siphoning funds from Reliance Home Finance. Despite these obstacles, Reliance Power's recent performance reflects a significant recovery and positive sentiment among investors.
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