Reliance Industries (NS:RELI) marked a significant milestone on Tuesday as its shares surged close to 2%, propelling the conglomerate's market capitalization beyond the ₹20 lakh crore mark.

Here's a closer look at the developments:

Record-Breaking Performance: India's most valuable company, led by Mukesh Ambani, witnessed its shares hitting a new all-time high of ₹2,958. This surge adds to the impressive performance of Reliance Industries in 2024, with the stock gaining over 13% year-to-date.

Market Capitalization Milestone: With this latest surge, Reliance Industries became the first listed Indian entity to surpass the ₹20 lakh crore market capitalization mark. This achievement underscores the conglomerate's status as one of Dalal Street's most significant wealth generators.

Historical Perspective: Reliance's journey in market valuation has been remarkable, with the company first reaching the ₹1 lakh crore market cap milestone in August 2005. Subsequently, it surpassed the ₹10 lakh crore level in November 2019. Now, at around ₹20 lakh crore valuation, Reliance maintains its position as India's most valuable firm, surpassing competitors like TCS (NS:TCS) and HDFC Bank (NS:HDBK).

Ambani's Wealth Surge: Mukesh Ambani's personal wealth has also seen a substantial appreciation in line with Reliance's stellar performance. Last month, he re-entered the elite circle of centibillionaires, with his net worth standing at around $109 billion, according to Bloomberg's Billionaire Index.

Price Action: Reliance Industries' share price was up 1% in Tuesday afternoon trading, reflecting investor optimism and confidence in the conglomerate's continued growth trajectory.