Reliance Power, RInfra shares extend slide, drop 5% each; analysts turn cautious

Shares of Reliance Power Ltd and Reliance Infrastructure Ltd declined sharply for the second straight session on Friday, each shedding 5 per cent to close at Rs 56.72 and Rs 342.05, respectively. Despite the recent correction, RPower and RInfra have rallied 54.47 per cent and 37.01 per cent, respectively, over the last six months.

The ongoing decline follows Enforcement Directorate (ED) raids across nearly three dozen locations linked to the Reliance Anil Dhirubhai Ambani Group (ADAG) in Mumbai and New Delhi, in connection with a money laundering probe.

Reliance ADAG, in response, issued a statement refuting the basis of the ED's actions, clarifying that the investigation relates to transactions involving YES Bank and Reliance Home Finance from over eight years ago.

"Loans extended by Reliance Home Finance Limited (RHFL) to certain private companies of the promoter of Yes Bank were sanctioned on merit, after following the due process, and were duly approved by a credit committee comprising more than 30 individuals. These loans were fully secured and have been fully repaid, including interest and the outstanding is zero," the group said.

From a technical standpoint, a few analysts have recommended a bearish view on both RPower and RInfra shares for now.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that RPower looks technically weak and may slip further towards Rs 50 level, with immediate resistance seen at Rs 57. Singh mentioned that RInfra also appeared weak on charts and could slip towards Rs 310 while resistance lies at Rs 355.

Sebi-registered independent analyst AR Ramachandran said, "RPower's stock price is currently bearish on daily charts, with the next resistance seen at Rs 60. A daily close below the support of Rs 58.5 could trigger a decline towards Rs 52.15 in the near term."

Ramachandran recommended a bearish stance on RInfra shares as well, with strong resistance at Rs 360. A daily close below support of Rs 339 could lead to a downward target of Rs 311 in the near term," he added.

As of June 2025, promoters held a 19.05 per cent stake in RPower and 24.98 per cent in RInfra.