Shares of Reliance Power, a company owned by Anil Ambani, declined nearly 4% on Thursday, July 25, amid weak Q1 results and fresh concerns after the Enforcement Directorate (ED) launched raids at over 35 locations linked to the Reliance ADA Group.
The ED is probing an alleged ₹3,000 crore loan diversion from Yes Bank between 2017 and 2019. The investigation has flagged serious irregularities including suspected shell companies, evergreening of loans, and missing documentation in credit approvals related to several RAAGA entities. Reliance Home Finance is among the companies under scrutiny, with SEBI earlier highlighting a sharp jump in its corporate loan book during the period.
Amid this backdrop, Reliance Power’s Q1FY26 performance added to investor worries. The company reported a net loss of ₹13.11 crore, compared to a profit of ₹93 crore in the same period last year. Revenue dropped 11.8% year-on-year to ₹821.96 crore, while EBITDA slumped 46% YoY to ₹96.6 crore. Margins contracted sharply to 11.76% from 20.24% YoY.
The stock has now declined 8% in two days, pressured by both operational underperformance and broader group-level scrutiny.
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