Reliance Power Slides 1.5% as CBI Probes Reliance Communications Fraud

Mumbai, August 26: After hitting the lower circuit on Monday, the shares price of Reliance Power continued their decline, falling close to 1.53%, trading at ₹45.75 at 12:45 PM. During the early trading hours, the stock had plummeted by more than 3% as there was a consistent selling pressure across Anil Ambani Group companies.

The stock has been falling after the CBI’s fresh search operations at Anil Ambani’s Mumbai residence and at the offices of the bankrupt Reliance Communications relating to a ₹2929 crore fraud complaint by SBI against the company. At the same time, Anil Ambani’s spokesperson has denied any role in the alleged fraud, which goes back to transactions carried out a decade ago, and the fact that Mr Ambani was a non-executive director of the company with no role in day-to-day management.

Reliance Power: Stock Price Movement

At 12:45 PM, the stock had rebounded a bit (after a 3% fall during the early morning trades) and was trading at ₹45.75 (1.53% down from the previous day’s closing price). The trading volume was higher than usual (1.23 crore shares traded so far). The low-high range for the day was ₹44.13 and ₹47.46.

Even after the fall for the past two days, the stock has surged more than 24% in the past six months. The stock had hit a lower circuit yesterday (₹44.13 per share). The stock is currently far below its 52-week high of ₹76.49 (touched in June 2025) but still above its 52-week low of ₹29.21 hit in September 2024.

Broader Context

The decline in Reliance Power follows sharp sell-offs across Reliance Group companies after the fraud classification of Reliance Communications’ loans by SBI and Bank of India triggered investor concerns. With insolvency proceedings ongoing for group entities and renewed regulatory scrutiny, investor sentiment around ADAG stocks has turned fragile.

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