Shares of Anil Ambani’s Reliance Power Ltd fell by 1% on Friday after the Central Bureau of Investigation (CBI) conducted searches in connection with a fraud case linked to Reliance Communications. The development triggered fresh caution among investors, leading to profit booking in the Anil Ambani-led power stock.
Reliance Power shares is currently trading at ₹27.34 on the NSE, down 1.87% or ₹0.52 for the day. The decline came after PTI reported that the CBI carried out searches at seven premises across Mumbai, Gurugram, and Bengaluru linked to former executives and directors associated with Reliance Communications during the 2015–2017 period.
According to the report, the searches were conducted at the residential premises of the then CEO, CFO, and directors of the company. “The searches were conducted on the strength of search warrants dated 14.05.2026 issued by the special judge for CBI cases, Mumbai. The searches resulted in seizure of incriminating documents and further investigation is continuing,” the statement said.
The news appeared to weigh on overall sentiment around Anil Ambani group stocks, including Reliance Power, despite the company not being directly named in the investigation. Investors turned cautious amid concerns that negative headlines surrounding group entities could temporarily impact market confidence.
However, despite the fall, Reliance Power has continued to outperform broader market indices over the past month. The stock has rallied nearly 7.43% in one month and witnessed a sharp surge from around ₹20.36 to ₹28.58 during April 2026, delivering gains of over 40% within the month.
Market experts believe the broader uptrend in Reliance Power has been driven by improving business fundamentals rather than speculative activity. Analysts have highlighted the company’s debt-free status as a key positive trigger that has attracted value buying at lower levels.
As per the company’s March 2026 quarter shareholding pattern, promoter holdings include stakes held by Anil Ambani, Tina Ambani, Anmol Ambani, and Kokila D Ambani.