The shares of Anil Ambani’s Reliance Infra witnessed a sharp fall of more than 4% after NDTV profit reported that Enforcement Directorate (ED) has identified assets worth Rs 2,000 crore linked to Reliance Infrastructure Ltd. The report further claims that the assets are now under the ED scanner as part of the agency's larger investigation on the group, regarding alleged violations under the Foreign Exchange Management Act (FEMA). The process of attaching these assets is expected to begin in two weeks.This comes on the back of ED recently searching six locations in Mumbai and Indore, connected to Reliance Infrastructure, which in turn, is part of a larger probe into the group for allegedly averting loans and due diligence lapses.ED has also received inputs from at least 30 banks regarding potential lapses in lending practices in these ADAG firms.The probe from ED is focused on alleged fund diversion of Rs 17,000 crore across multiple ADAG companies. ED has also reviwed a CBI chargesheet which was filed last month, which alleged quid pro quo arrangement between Yes Bank and ADAG firms.
Yesterday, shares of Anil Ambani-led Reliance companies tumbled up to 10.5% in morning deals on Monday, October 13 after the arrest of senior Reliance Power executive Ashok Kumar Pal in the alleged fake bank guarantee and fake invoicing case on Saturday.Reliance Power shares cracked over 10% to their day’s low of Rs 43.55 per share, while Reliance Infrastructure shares were down 4.5% at Rs 231 per share. Additionally, Anil Ambani appeared before the ED as part of the PMLA investigation, marking a series of regulatory blows to the conglomerate. Reliance Infrastructure shares have been notably volatile since the last one month.
The company has been in the news for many reasons.The company’s revenue from operations for Q1 FY26 was Rs 59.07 bn, down about 17.86% year-on-year (YoY). Reliance Infrastructure reported a net profit of Rs 598.4 m for Q1 FY26, a significant turnaround from a loss of Rs 237 m in the same quarter of the previous year (Q1 FY25).In terms of segments, Mumbai Metro One achieved the highest ever Q1 fare revenue of Rs 840 m. In the power segment, the transmission & distribution loss for the company reduced below 6.5%, on rolling basis, in Delhi Discoms backed by high operational efficiencies.All of this contributed to the turnaround in performance. One of the big positives for the company is that it is net debt free.