Reliance Communications Share Price Jumps Despite Bank of Baroda’s ‘Fraud’ Tag – Stock Market Today

Market Performance

Reliance Communications share price drew attention in stock market today, as the stock surged in early trade despite a fresh setback from lenders. On Friday, September 5, shares of the company rallied over 3%, hitting a day’s high of ₹1.43 on the NSE compared to the previous close of ₹1.38.

At 9:55 am, trading activity was intense, with 11 lakh buy orders stacked against 4 lakh sell orders, reflecting heightened interest in the penny counter trading below ₹2.

The Main News – BoB’s Fraud Classification

The surge came just a day after Bank of Baroda (BoB) issued a notice classifying the loan accounts of Reliance Communications and its former promoter Anil Ambani as ‘fraud’.

In its exchange filing, Reliance Communications confirmed receiving a communication dated September 2, 2025 (received on September 3, 2025) from BoB. The notice stated that both the company’s loan accounts and those of Shri Anil Dhirajlal Ambani, in his capacity as erstwhile promoter and director, have been marked as fraudulent.

This latest move by BoB follows earlier actions by other state-owned lenders, including State Bank of India and Bank of India, which had previously labeled Reliance Communications’ accounts as fraud. These actions were linked to alleged fund diversion dating back to 2016, as per regulatory disclosures.

Company Details & Insolvency Proceedings

Reliance Communications has been placed under the Corporate Insolvency Resolution Process (CIRP) since June 28, 2019, as governed by the Insolvency and Bankruptcy Code, 2016.

• With effect from June 2019, its affairs and assets have been managed by Resolution Professional Anish Niranjan Nanavaty.
• As part of this transition, Anil Ambani ceased to be a director of the company.
• The company noted that legal advice is being sought to assess the impact of BoB’s move and to decide the way forward.

ADAG Group Stocks Movement

The ripple effect of the news was visible across other Anil Ambani Group (ADAG) counters, though performances were mixed:

• Reliance Infrastructure slipped over 2%, hitting a low of ₹281 on the BSE.
• Reliance Power, after dropping to ₹45.55, managed to recover, trading marginally higher by 0.5%.

Meanwhile, Reliance Communications share price remained in focus, trading at ₹1.40 by 10:30 am, up 1.45%.

Summary

• Reliance Communications share price jumped 3.62% in intraday trade despite fresh regulatory pressure.
• Bank of Baroda declared both the company and Anil Ambani’s accounts as ‘fraud’.
• RCom remains under insolvency proceedings since 2019, with operations overseen by Resolution Professional Anish Nanavaty.
• Other ADAG stocks traded mixed, with Reliance Infra slipping and Reliance Power recovering from early lows.

The story of Reliance Communications share price reflects the paradox of market sentiment—while regulatory setbacks deepen, trading interest in the penny stock remains strong, keeping it in the spotlight of stock market today.