Anil Ambani’s Reliance Infrastructure Stock Remains Suspended for Fourth Straight Session; 9.44 Crore Shares Stuck

Anil Ambani's Reliance Infrastructure shares stayed away from regular market trading for the fourth consecutive day, as regulatory curbs continued following the company’s admission into the Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC). The prolonged restriction has kept nearly 9.44 crore equity shares trapped under limited trading conditions, intensifying concerns around liquidity and price discovery. The Anil Ambani-led company remains under Additional Surveillance Measures (ASM) imposed by stock exchanges, under which the stock is permitted to trade only once a week on Mondays, and that too only for selling, with fresh buying strictly prohibited. As a result, the counter remains excluded from active market participation on most trading days.

The restrictions come after sharp volatility in recent sessions, where the stock witnessed repeated upper-circuit moves, prompting regulators to step in to curb speculative excesses and ensure orderly trading. Market participants said the measures are preventive in nature but have significantly reduced exit flexibility for shareholders.

Despite the trading curbs, Reliance Infrastructure has shown strong short-term momentum, rising about 27% over the past week. However, the longer-term picture remains weak, with the stock still down nearly 40% over the past year. The counter, which once traded at four-digit levels, had earlier collapsed to distressed prices before staging a recovery to around ₹173.20. Another key overhang is the steady reduction in Foreign Institutional Investor (FII) holding, which has declined from 11.35% to 7.08% since March 2025. Analysts note that continued foreign selling raises questions over the sustainability of the recent rally, suggesting the stock may remain a high-risk, short-term trading play rather than a stable long-term investment.

Liquidity concerns are further amplified by ongoing regulatory and enforcement scrutiny. The Enforcement Directorate (ED) had earlier frozen assets worth over ₹8,997 crore linked to the Reliance Group as part of a money-laundering probe related to an alleged ₹17,000-crore bank fraud case. Group companies have consistently stated that Anil Ambani is not involved in day-to-day operations, though he has previously been questioned by the ED.