Reliance Industries Ltd's (RIL) market cap hit Rs 13 lakh crore on Thursday after the stock price shot up by over 3.5 percent to a fresh all-time high of above Rs 2,078.90 apiece on the BSE.

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The energy to digital conglomerate has seen its market cap rising to Rs 13 lakh crore from Rs 12 lakh crore in just 8 trading sessions.

On Thursday, the stock ended 2.82 percent higher at Rs 2060.65 apiece on the BSE with a market cap of Rs 13,06,329.39 crore.

The stock price of RIL has risen over 139 percent since its 52-week low of Rs 867.82 hit on March 23, 2020.

Meanwhile, Reliance Industries' Partly Paid shares surged 6.82 percent or Rs 75.40 to settle at Rs 1,180.95 on the BSE. The market cap of RIL's Partly Paid shares is Rs 49,888.08 crore.

The combined market cap stands Rs 13,56,217.47 crore.

The surge in stock price comes on the back of recent investments amounting to Rs 1,52,055.45 crore in its subsidiary Jio Platforms by leading global companies such as Google, Facebook, Qualcomm, Intel, PIF, L Catterton, Silver Lake, AIDA and others.

Last week, in the first-ever virtual AGM, RIL Chairman Mukesh Ambani announced that Google will buy a 7.7 percent stake for over Rs 33,000 crore in Jio Platforms. He also talked about the expansion of Reliance Retail and spinning off the oil-to-chemicals business into a separate subsidiary.

First Published:Jul 23, 2020 3:50 PM IST