Reliance Infrastructure to Reliance Power: What’s driving the rally in Anil Ambani-owned stocks?
The markets might be in consolidation mode, but there are some definite pockets of strong gains. One such pocket is the group of stocks led by Anil Dhirubhai Ambani. After the significant erosion in share value, the Anil Ambani-led stocks have seen a big surge in prices recently.
From Reliance Power hitting its highest levels since 2018 to the sharp rally in Reliance Infrastructure, the group stocks have been powering ahead on the back of a host of positive newsflow. The group has been on a major overhaul lately. On June 04, the National Company Law Appellate Tribunal (NCLAT) suspended the National Company Law Tribunal’s (NCLT) order admitting Reliance Infrastructure into the Corporate Insolvency Resolution Process (CIRP).
Reliance Infrastructure share up 61% in 1 month
Reliance Infrastructure share price has been on a roll, has risen more than 11% in the last five trading sessions and is up over 61% in a month. The share price rallied as much as 27% in the last six months and has given multibagger returns over the last year, climbing 105%.
The company has set out plans to ‘turbocharge’ its defence vertical in the next few years. The focus will remain on aircraft upgrade programmes. The company is now eyeing an opportunity of Rs 5,000 crore over the next seven to ten years.
The organisation led by Anil Ambani has recently become the first private sector firm to carry out a complete aircraft upgrade program independently, despite not being the original manufacturer. It is usually a domain that is traditionally dominated by public sector units and OEMs in India.
Plus, Reliance Infrastructure’s standalone net debt from banks and financial institutions marked zero, a significant reduction of approximately Rs 3,300 crore during FY25.
Reliance Power up 63% in 1 month
The other big gainer in the list of Anil Ambani Group stocks is Reliance Power. It has surged 4.4% to an intra-day high of Rs 64.37 and is up over 63% in last 1 month. Like Reliance Infrastructure, Reliance Power, which is also known as RPower, has been bagging big orders. Reliance NU Suntech, a subsidiary of RPower, signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 930 MW of solar power integrated with a 465 MW/1,860 MWh battery energy storage system (BESS). This is Asia’s largest single-location solar-BESS project to date. The project will be developed over the next 24 months with an investment of up to Rs 10,000 crore.
Before that, in December 2024, RPower secured a stay order from the Delhi High Court (HC) against a debarment notice issued by Solar Energy Corporation of India (SECI). According to the notice, RPower and its subsidiaries were barred from participating in SECI’s tenders for three years.
The court order, issued on November 26, 2024, granted temporary relief to all RPower’s subsidiaries except Reliance NU BESS (formerly Maharashtra Energy Generation). But a month later, the Delhi HC granted interim relief to Reliance NU BESS as well.
In May 2025, Reliance Power raised Rs 348.15 crore through the placement of preferential shares. The company said 9.55 crore equity shares were issued to Reliance Infrastructure (promoter) and 1 crore shares to Basera Home Finance Private Limited (public).
Swan Defence and Heavy Industries
Swan Defence and Heavy Industries’ share price surged 5% to an intra-day high of Rs 179.11 on the National Stock Exchange. The increase in its stock price was on the back of buzz about the company considering raising over Rs 700 crore via a Qualified Institutional Placement (QIP). According to a source-based report on Moneycontrol, the SPV Hazel Infra is set to offload a 5% stake in the company. The report further stated that, as per existing public shareholding norms, Swan Defence and Heavy Industries would have to eventually dilute 20%.