India, May 30 -- Shares of Reliance Power Ltd soared on Friday, hitting a 52-week high of Rs.59.75 on both the NSE and BSE, driven by a confluence of strong financial results, a major renewable energy contract win, and growing investor optimism in the company's clean energy strategy.

The stock, at market closing on Friday, was trading at Rs.58.09 on the NSE, 11.24% up from the previous day. It outperformed both the indices - Sensex and Nifty - which ended the day in red.

The stock has now gained nearly 30% in May alone and over 140% in the past 12 months, reflecting a resurgent investor sentiment.

The primary catalyst behind Friday's rally is the announcement made by the company on May 28, post market hours, that its subsidiary Relianc...