Shares of Anil Ambani’s Reliance Power is in focus today after Enforcement Directorate (ED) officials on Friday conducted searches at multiple premises linked to companies associated with the Reliance Group Chairman. Reliance Power is currently 2% up in today’s morning session against the previous close of 22.55. Speaking about Reliance Power, the stock has tumbled nearly 50% over the past six months. Investors who entered the stock during its previous upward momentum are now sitting on substantial losses, as sustained selling and weak market cues have dragged prices lower. The 52-week high for Reliance Power shares stands at ₹76.49.
Reliance Power shares have fallen over 90% from their historic levels. On May 23, 2008, the stock was trading at ₹274.81. As of March 2, 2026, it has dropped to ₹22.76. Despite the recent decline, the long-term performance of the stock remains impressive. Reliance Power has delivered stellar returns of over 757% in the past five years and more than 126% gains over the last three years, significantly rewarding long-term investors who stayed invested through market cycles.
Sources said the searches are being conducted against individuals and entities linked to Reliance Power and other firms associated with the businessman. The development comes amid multiple investigations involving companies linked to Ambani. Earlier, the Central Bureau of Investigation (CBI) had registered a banking fraud case worth over Rs 2,200 crore against Reliance Communications.
The raid is part of the ongoing probe into alleged financial irregularities and money laundering cases, said officals. According to officials, around 15 ED teams carried out the raids early in the morning across 10 to 12 locations, primarily in Mumbai. Just last week, Ambani was questioned by the Enforcement Directorate for more than 10 hours in connection with a Rs 40,000-crore banking fraud case related to loans extended by State Bank of India and other lenders. However, officials said he did not appear for questioning in a separate money-laundering investigation linked to loans from Yes Bank.In the course of the probe, the ED has also provisionally attached assets linked to Ambani, including a residential property valued at around Rs 3,761 crore. Officials said the total value of attached assets in the case has reached nearly Rs 15,000 crore. The agency said the attached assets would eventually be restituted to claimant banks after completion of the legal process.Investigations in the case are ongoing.