Reliance Infrastructure Ltd. shares extended the winning streak for a third straight trading session on Wednesday, rising nearly 5% intraday. The latest gains have taken the stock's rally to around 15% over the past three sessions, making it one of the top-performing infrastructure stocks in recent trade.
The stock was trading at Rs 69.49 apiece on NSE around 9.48 am today, against its previous close at Rs 66.19.
The latest rally began on Monday, when investors accumulated the stock even as the Central Bureau of Investigation (CBI) registered a First Information Report (FIR) against Anil Ambani. The sustained gains over the past three sessions suggest that investors have largely looked past the recent developments and remained focused on the stock's momentum.
Stock Rises Despite CBI Action Against Anil Ambani
Reliance Infrastructure shares gained 15% since Monday, amid positive sentiment in the broader domestic market following supportive global cues. The buying came despite the CBI registering an FIR on Saturday against Anil Ambani, alleging that he, along with unknown public servants and other unidentified persons, caused a wrongful loss of Rs 1,007 crore and an additional interest liability of Rs 808.67 crore to the EPFO.
The FIR includes charges of criminal conspiracy, cheating, criminal breach of trust and criminal misconduct. It was registered based on a written complaint filed by the Employees' Provident Fund Organisation (EPFO), which functions under the Ministry of Labour and Employment.
Despite the developments, investors continued to buy Reliance Infrastructure shares, with the stock trading below the Rs 100 mark, hitting the 5% upper circuit in early trade on Monday.
Also Read: Reliance Infra Share Price Jumps 5% In Trade Despite CBI FIR Over EPFO Fraud
ED Provisionally Attaches Assets Worth Rs 179.66 Crore
In a separate development, on Aug. 4, Reliance Infrastructure informed stock exchanges that it had received a communication regarding a provisional attachment order issued by the Enforcement Directorate (ED). The order covers certain assets of the company, including its shareholding in Reliance Power, of an aggregate amount of Rs 179.66 crore.
The company said it would take all appropriate steps, based on legal advice, to safeguard its interests as well as those of its shareholders and other stakeholders.
Renewable Business CEO Steps Down
In a separate exchange filing dated July 31, the company disclosed that Ivan Saha had resigned as the Chief Executive Officer of its renewable business. According to the exchange filing, Saha resigned due to personal reasons, with his cessation taking effect from July 31.
Stock Defies Recent Developments
Despite these disclosures, Reliance Infrastructure shares continued to rise, gaining more than 15.7% in past three days.
Having said that, the stock had been under pressure for a prolonged period before this recent rally.
In the past year, the stock tanked more than 75%, and since the beginning of 2026, the stock has been down over 55.5%.
Currently, the stock is trading at a price-to-earnings multiple of 0.56 times, and the company has a market cap of Rs 2,839.6 crore as at the end of the last session.
Also Read: CBI Registers FIR Against Anil Ambani Over Wrongful Loss Of Over Rs 1,800 Crore, Alleges EPFO Fraud
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