Following a rise in its share price, Reliance Industries Limited became the first Indian business to reach a market capitalization of Rs 19 lakh crore on Wednesday.

On the Bombay Stock Exchange (BSE), the Reliance Industries stock gained 1.85% to a new high of Rs 2,827.10. In the morning session on the BSE, the company's market capitalization surged to Rs 19,12,814 crore as a result of the increase in share price.

The company's market capitalization surpassed Rs 18 lakh crore in March of this year.

On October 13 of last year, the company's market capitalization surpassed Rs 17 lakh crore.

Meanwhile, Mukesh Ambani's Reliance Industries Ltd has signed a formal shareholder agreement for the USD 2 billion TA'ZIZ chemical joint venture in the UAE, as well as an agreement to partner with ADNOC in the search for and production of conventional and unconventional resources.  The stock has gained more than 19% so far this year.

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