Anil Ambani’s Reliance Power and Reliance Infra Accuse Rivals of Trying to Crash Stock Prices

Anil Ambani–led Reliance Group on Wednesday issued a strongly worded statement alleging that a coordinated effort is underway to tarnish its reputation. This comes ahead of an online exposé scheduled by investigative outlet Cobrapost. The group claimed that certain corporate rivals were using “calumny, disinformation and character assassination” to harm the credibility of its listed companies—Reliance Infrastructure and Reliance Power.

In a regulatory filing, Reliance Group said the Cobrapost-announced press briefing, titled “The Lootwallahs: How Indian Business is Robbing Indians – I. The Ledger of Lies. A Fraud Worth Around ₹41,000 crore Exposed,” was merely a rehash of outdated information that had been “misrepresented, distorted and taken completely out of context.” The filing noted that all such information has long been publicly available and has already been scrutinized by statutory bodies, including the CBI, ED and SEBI.

The conglomerate further alleged that the campaign aims to trigger a fall in its share prices and unsettle market sentiment so that competitors can acquire its assets at throwaway prices. Among the key projects it said were being eyed are BSES Ltd, the Mumbai Metro, and the 1,200 MW Rosa power plant.

The group described the supposed exposé as a “desperate attempt to extort concessions and other benefits,” and referred to the platform behind it as a “defunct and discredited online entity revived by vested interests for commercial gain.” Although it did not name any specific rival companies or individuals, the Reliance Group stated that certain stock market patterns and recent price movements have led it to urge regulators to intervene. Both Reliance Infrastructure and Reliance Power have reportedly filed complaints with SEBI seeking an investigation into trading activity.

Cobrapost, meanwhile, continues to plan its press conference.Over the last one year, Reliance Power has moved up from Rs 41.5 to Rs 46.3, registering a gain of Rs 4.9 (up 11.8%).Reliance Power net profit grew 145.5% YoY to Rs 447 million for the quarter ended June 2025, compared to a loss of Rs 983 million a year ago. Net sales declined 5.4% to Rs 18,856 million during the period as against Rs 19,922 million in April-June 2024.For the year ended March 2025, Reliance Power reported 231.5% increase in net profit to Rs 29,474 million compared to net loss of Rs 22,422 million during FY24. Revenue of the company fell 3.9% to Rs 75,829 million during FY25.The current Price to earnings ratio of Reliance Power, based on rolling 12 month earnings, stands at 6.2.