New Delhi, June 11 -- RattanIndia Power, a penny stock jointly owned by state-run giants REC and PFC, witnessed a sharp rally on the bourses this week, surging over 40 percent in just three trading sessions. On Wednesday, June 11, the stock jumped another 12.71 percent to hit an intraday high of Rs.16.14 on the NSE. This marks a staggering 45.28 percent gain over the last five trading days, with investor interest surging amid heavy volumes.

More than 19.47 crore shares changed hands during the session, highlighting heightened speculative activity. The sudden rise has sparked regulatory attention, with both the BSE and NSE seeking clarification from the company on the unusual price and volume movement.

In response to the exchanges, Ratta...