Reliance Power shares volatile as ED conducts raids at multiple locations linked to Anil Ambani

Shares of Reliance Power were volatile in early trade today, March 6 after reports emerged that the Enforcement Directorate (ED) carried out search operations at multiple locations linked to companies associated with Anil Ambani.

According to inputs from ANI, the ED conducted raids at around 10–12 locations, with approximately 15 ED teams carrying out search operations early in the morning. Officials said the searches are being conducted against individuals linked to Reliance Power Limited and other companies associated with Anil Ambani.

The stock saw sharp intraday movement following the development. Reliance Power shares had opened at ₹22.41 and climbed to an intraday high of ₹23.24, before giving up gains and trading around ₹22.69, marginally higher than the previous close of ₹22.55.

The latest action by the ED comes amid ongoing investigations related to alleged financial irregularities. Earlier reports indicated that Anil Ambani had appeared before the Enforcement Directorate in connection with a money laundering investigation linked to an alleged ₹40,000 crore case, according to a report by The Times of India.

The searches are part of the agency’s continuing probe into financial transactions and entities connected to the business group. Officials said the action is currently underway and further details may emerge once the searches are completed.

Reliance Power, part of the Anil Ambani-led Reliance Group, operates power generation assets and has been under investor watch due to regulatory and legal developments involving the group.