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Shares of Anil Ambani’s Reliance Power and Reliance Infra shares surged in today (November 12) after the company issued a clarification over alleged FEMA violations. In a statement, Ambani’s spokesperson said the FEMA matter is 15 years old and dates back to 2010, involving issues linked to a road contractor. The statement noted that Reliance Infrastructure had awarded an EPC contract that year to build the JR Toll Road (Jaipur–Reengus highway), a domestic project with “no foreign exchange component”. The highway was completed and has been with the National Highways Authority of India since 2021.The share price of Reliance Infrastructure jumped by 5% and Reliance Power jumped by 2%. RPower is currently trading at Rs. 34.33 against the previous close of 33.54. Rinfra is currently trading at Rs.135.75 against the previous close of 129.65. Moreover ADA Group has repeatedly stated that Anil D. Ambani is not on the Board of both Rpower and Rinfra since more than 3 years i.e. March 2022.The ED had earlier summoned Reliance ADAG promoter Anil Ambani twice in the FEMA case. However, Ambani said he is willing to depose before the federal probe agency through a virtual appearance or a recorded video. For Rpower, a few analysts suggested that Rs 30 acts as a key support level for the stock while the counter faces near-term resistance in the Rs 36–40 zone. 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."Meanwhile, RInfra has crashed as much as 19% in the last seven sessions. Reliance Infrastructure have been facing selling pressure after Enforcement Directorate (ED) last week attached a total assets worth ₹10,000 crore as part of its ongoing money laundering probe. The Enforcement Directorate (ED) earlier froze properties worth more than Rs 8,997 crore of the business group. With the latest action, the total value of attachment of the Reliance Group stands at Rs 10,117 crore.mong the 18 immovable assets provisionally attached under the Prevention of Money Laundering Act (PMLA) are the Reliance Centre in Ballard Estate, a commercial office building of Reliance Infrastructure Limited in Andheri East and residential properties and a guesthouse of Reliance Infrastructure Limited in Santacruz (all in Mumbai). A total of 231 plots of land and seven residential flats in Chennai, belonging to Reliance Value Services Private Limited, have also been attached as part of the same order, the ED said. The movable assets that have been attached include fixed and bank deposits, shareholding in unquoted investments of the Reliance Anil Ambani Group, apart from some other entities. The total value of the attachment is Rs 1,120 crore, the agency said.

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