Shares of Reliance Power Ltd hit their 5 per cent lower circuit limit in Friday's trade, snapping a 15-day long winning spree on profit booking. The stock fell after Reliance Power, post its much-awaited meeting on fundraising on October 3,

Reliance Power share price was locked in the 5% lower circuit today after scaling a one-year high on Friday. The stock has risen 80% in the last one month and delivered multibagger gains of 170% in the last one year.

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.

So, Bagadia expects around 33% more upside from Reliance Power shares' current market price of ₹ 46.35 apiece.

Reliance Power recently made a strategic move by allotting a massive amount of 46.20 crore equity shares, which are valued at a sky-high Rs 1,524.60 crore.

Anil Ambani's Reliance Power shares had been rising for the past few days. The share closed at Rs 53.64 with a nearly 5 per cent hike on Thursday, October 3. However, it declined

The company’s board of directors has approved a fundraise of $500 million (approximately Rs 4,200 crore) through the issuance of foreign currency convertible bonds (FCCBs). These bonds will be offered on a private placement basis to a US company,