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.

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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 (RPower), led by Anil Ambani, has seen its shares surge by around 55% over the past nine trading sessions. From a closing price of Rs 31.40 on September 17, the stock has been hitting upper circuits consecutively, reaching Rs 48.66 by the latest session.

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On the last trading day, Reliance Industries opened at ₹2870.3 and closed at ₹2877. The stock reached a high of ₹2899.95 and a low of ₹2870.3, indicating some fluctuations throughout the day but ultimately ending slightly higher than its opening price.

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.