This Anil Ambani company shares jumped 28% in 8 days - Do you own?

Shares of Reliance Power Ltd have been on a run. The Anil Ambani-led company's stock has been on a steady climb, ending in the green for seven out of its last eight trading sessions on the BSE. This sustained momentum has pushed the stock up by over 28% in the last eight trading sessions.

The buying spree continued into Monday's trade, where Reliance Power stock jumped 3.53% to settle at Rs 26.11 per share, up from its previous close of Rs 25.22, with a total traded quantity of 126.76 lakh shares changing hands. This translated to a total trading turnover of Rs 32.64 crore on the exchange.

On the technical front, Trendlyne data showed to a short-term bullish trend, with the counter now trading above its 5-, 10-, 20-, 30-, and 50-day simple moving averages (SMAs). However, the stock still faces overhead resistance on the longer charts, remaining below the 100-, 150-, and 200-day SMAs.

Despite the eight-day rally, the stock is down 42% over the past six months and currently sits a steep 65.86% below its 52-week high of Rs 76.49.

Part of the broader Reliance Group umbrella alongside Reliance Infrastructure, Reliance Power focuses on developing, constructing, and operating energy projects both in India and abroad. The company manages a substantial portfolio of active and under-development power generation capacities.