Reliance Power shares hit a new 52-week high, reaching Rs 42.06 on the BSE after the board approved issuing up to 46.2 crore equity shares and/or warrants worth Rs 1,525 crore through preferential allotment.

Promoter Jai Anmol Ambani has paid Rs 1 crore imposed by the market regulator Securities and Exchange Board of India (SEBI) in its order on September 23, without admitting the liability.

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.

What's behind the fresh rally? Investors are buzzing as the company makes big moves—find out what's driving the surge.

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.