Billionaire Mukesh Ambani-led Reliance Industries (RIL) is now the 51st most-valued firm in the world, helped by a continuous rally in its share price. The up move in RIL market valuation, the country's most valued firm, was driven by strong rally in the company's share following a series of investments in its telecom arm Jio Platforms by marquee global companies and investors that include Facebook, Silver Lake Partners, KKR, General Atlantic, Mubadala, and TPG.

RIL with a market capitalisation of $169 billion has overtaken the likes of Unilever, Bank of China, Nike, Abbott Labs, Sanofi and Softbank Group C, data from Bloomberg showed. Saudi Aramco, the Saudi Arabian multinational petroleum and natural gas company, tops the charts.

On Monday, RIL share price rallied over 3 per cent to hit a fresh record high of Rs 1,947 amid surge in volume trade after the company secured Rs 730 crore investment from wireless technology leader Qualcomm for a 0.15 per cent stake in Jio Platforms. The stock has jumped 127 per cent against its 52-week low of Rs 867.82 touched on March 23, 2020.

With this, the oil-to-telecom conglomerate has become the first Indian company to cross the Rs 12 lakh crore market valuation mark. In morning trade, the company's market valuation jumped to Rs 12.25 crore, adding Rs 35,088 crore in today' session, on the BSE. RIL's market cap has risen to Rs 12 lakh crore from Rs 11 lakh crore (hit on June 18, 2020) in less than a month.

RIL market cap crosses Rs 12 lakh crore as Qualcomm to invest Rs 730 cr in Jio Platforms

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Stocks in news: RIL, Yes Bank, Avenue Supermarts, IRCTC, SAIL, Biocon