Mumbai, July 23: The market capitalisation (m-cap) of Reliance Industries Limited (RIL) on Thursday crossed Rs 13 lakh crore mark after the firm's shares rose nearly 4 per cent in intra-day trading. With this, the oil-to-telecom conglomerate became the first Indian company to achieve the landmark. Also, the stock price of RIL hit a fresh all-time high of Rs 2,078.90 per share.

On Thursday, Reliance Industries' share price stood at Rs 2,060.65, up 2.82 per cent, at market closing. Also, the m-cap of Reliance Industries Limited was above Rs 13.06 lakh crore. RIL achieved this new landmark a day after its Chairman and Managing Director (CMD) Mukesh Ambani became the world's fifth richest person. Ambani has surpassed ace American investor Warren Buffett to secure the fifth richest person globally, with his wealth standing at $75 billion (Rs 5.61 lakh crore). Mukesh Ambani is Now 5th Richest Person in the World, Moves Ahead of Warren Buffet as Wealth Increases to $75.1 Billion.

According to details, Reliance has sold nearly 33 per cent of stake in its digital services arm Jio Platforms. The stakes have been sold to prominent investors including internet giants Facebook and Google. With the selling of its stakes, Reliance has raised funds worth Rs 2,12,809 crore in less than three months. Earlier, Ambani sold its stakes and did a partnership with global oil major BP -- worth Rs 53,000 crore -- which helped RIL become net debt-free.

(The above story first appeared on LatestLY on Jul 23, 2020 05:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).