The stock had soared over 60 percent in the past month, driven by strong investor sentiment following the announcement that the Anil Ambani-led company had become debt-free.

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.

The stock was hitting 5% upper circuit for the past 12 sessions, while it maintained an uptrend since September 12, rising 72% during the same period.

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On October 2, 2024, Anil Ambani-run Reliance Group announced a significant partnership with Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan, to enhance the renewable energy landscape in the country.

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.