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

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.

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.

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.