Shares of Anil Ambani’s Reliance Power tumbled 7% during Monday’s trading session, following the trading suspension of its group company, Reliance Infrastructure. Investors faced limited exit options as Reliance Infra hit the upper circuit, prompting a sell-off in associated stocks. Market analysts said the sudden suspension raised concerns over liquidity and investor sentiment, leading to sharp declines in Reliance Power. The stock has nosedived 43 per cent over the last six months. The stock is currently trading at Rs.36.03. Technically, a few analysts suggested that Rs 30 acts as a key support level for RPower, while the counter faces near-term resistance in the Rs 36–40 zone. The stock has been on a roll, not just due to courtroom wins but also from strategic decisions.A landmark deal through its subsidiary Reliance NU Suntech, which recently signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). The contract is for a 930 MW solar power project integrated with a 465 MW/1,860 MWh battery energy storage system (BESS), the largest of its kind in Asia, with an investment outlay of Rs 10,000 crore over the next two years.
The company also received crucial relief in an earlier legal battle: the Delhi High Court granted a stay on SECI’s three-year debarment order against RPower and its subsidiaries, allowing them to continue bidding for government tenders. Adding to its momentum, RPower raised Rs 348.15 crore in May 2025 through a preferential share placement, further strengthening its balance sheet and restoring market confidence. Moreover, the company reported positive Q2 numbers. The Reliance Group company posted a consolidated net profit of ₹87.32 crore for the September quarter of FY26, compared to a loss of ₹352 crore it logged in the corresponding period of the previous fiscal year
According to Sebi-registered independent research analyst AR Ramachandran, "The stock is bearish but also oversold on daily charts with next support at Rs 29.92. Investors should buy only if a daily close is above the resistance of Rs 36.11, which could lead to an upside target of Rs 44 in the near term."Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted, "The stock has support at Rs 30 and resistance at Rs 40. A breakout above Rs 40 could pave the way for a move towards Rs 43, with the short-term trading band expected between Rs 30 and Rs 43." The ADA Group stock have gained more than 11%. in the last five days. In the past five years, Reliance Power shares have surged by over 925%, rising from about Rs 3.60 to above Rs 37. The 52-week high of the stock is Rs 76.49, while the 52-week low is Rs 31.30. Despite the long-term rise, the stock has fallen more than 40% in the last six months and nearly 9% in the past month.
The stocks were earlier impacted by legal developments after the Central Bureau of Investigation (CBI) registered a case against Jai Anmol Ambani, son of Anil Ambani, over alleged financial irregularities that reportedly caused a loss of Rs 700 crore to Union Bank of India. This development had triggered a sharp sell-off in the company’s shares. The stocks later recovered after the Delhi High Court issued a notice to Union Bank of India, questioning whether a proper show-cause notice had been served before declaring Jai Anmol Ambani’s bank account as “fraud.” On December 8th ED had said it had filed a chargesheet against Reliance Power Ltd, an Anil Ambani group company, and 10 others in a money laundering case linked to the issuance of an alleged fake bank guarantee of ₹68 crore for securing a tender. Reliance Power said that its subsidiaries and its employees “acted bona-fidely and are victims of a fraud” committed by the third parties.
“It is reiterated that the Company, Reliance Power Limited, its subsidiaries and its employees acted bona-fidely and are victims of a fraud, forgery, cheating and conspiracy committed by the third parties,” Reliance Power said in a regulatory filing on 6 December. The company had also issued a clarification regarding the provisional attachment of assets by the Enforcement Directorate (ED) amounting to Rs 10,117 crore, in connection with alleged violations of the Prevention of Money Laundering Act (PMLA). The company emphasized that a substantial portion of the attachment — Rs 8,078 crore — is linked to Reliance Communications Limited, a company that has not been part of the Reliance Group since 2019, more than six years ago. Reliance Communications has been under the Corporate Insolvency Resolution Process (CIRP), and its operations are currently managed by a Resolution Professional under the supervision of the National Company Law Tribunal (NCLT) and its Committee of Creditors, led by the State Bank of India (SBI) and a consortium of lenders. The statement also pointed out that Anil D Ambani has not been a part of the Board of Directors of Reliance Power for over three and a half years.