Shares of Reliance Infrastructure Ltd (NSE: RELINFRA) remained under selling pressure on Monday after the stock resumed trading under the Additional Surveillance Measure (ASM) framework imposed by stock exchanges due to heightened price volatility. RInfra shares had fallen nearly 5% in the previous session, settling at ₹164.54, and extended losses on Monday. The stock was trading around ₹156.32, down ₹8.22 or 5%, compared with the previous close of ₹164.80. As per exchange data, Reliance Infrastructure’s inclusion under the ASM framework is intended to closely monitor unusual price movements and safeguard investor interests. The move does not amount to a trading suspension. However, the stock will be subject to stricter surveillance norms, including higher margin requirements and possible trade-to-trade limitations, depending on the ASM stage.
Market participants pointed out that ASM actions are preventive in nature and are automatically triggered based on quantitative parameters such as sharp price swings, elevated volatility, or irregular trading patterns. Reliance Infrastructure has witnessed increased volatility in recent weeks, keeping the stock firmly on traders’ radar. On a longer-term basis, the stock has declined nearly 40% over the past year, weighed down by mounting legal and regulatory challenges. That said, on a five-year timeframe, Reliance Infrastructure shares have delivered strong gains of over 497%. The stock’s 52-week high stands at ₹425, while the 52-week low is ₹127.95. The stock has now gone done by 57% in the last 6 months.
From a technical perspective, the absence of bullish signals across key momentum indicators and moving averages suggests that any near-term recovery may face strong resistance. Overall, Reliance Infrastructure appears to be navigating a difficult phase marked by sustained bearish momentum and weakening technical indicators. The recent volatility follows regulatory scrutiny, with the Enforcement Directorate (ED) having earlier frozen assets worth more than ₹8,997 crore linked to the Reliance Group in connection with an alleged ₹17,000-crore bank fraud and money-laundering case. While Anil Ambani has previously been questioned by the ED, group companies have maintained that he is not involved in day-to-day operations.
On the financial front, Reliance Infrastructure reported a 50% decline in consolidated net profit to ₹1,911.19 crore for the September quarter, compared with ₹4,082.53 crore in the same period last year. Total income fell to ₹6,309.48 crore from ₹7,345.96 crore in the July–September quarter of FY25. The company also reduced expenses to ₹5,991.49 crore, down from ₹6,450.38 crore a year ago. Notably, the company reported zero standalone bank debt, offering some relief amid the ongoing challenges. The company has repeatedly maintained the stance that Mr. Anil D Ambani has not been on the board of Reliance Infrastructure for more than three-and-a-half years and therefore any action has no bearing or impact on the governance, management, or operations of Reliance Infrastructure.