NEW DELHI : Mukesh Ambani-led Reliance Industries Ltd (RIL) today became the first Indian company to hit the 10 lakh crore milestone in market capitalisation, after its shares rose to a record high of 1,584 apiece. The broader markets also hit a new high today. RIL shares settled 0.65% higher at 1579.95, giving it a market cap of 10.01 lakh crore. RIL shares have outperformed the market since the start of this year, surging nearly 40%.

Here are 10 things to know:

1) Recently, RIL's telecom unit Jio announced that it will increase tariffs soon after other telecom operators announced plans for a price hike.

2) Sanjiv Bhasin, director of IIFL Securities, says remains positive on RIL shares. RIL’s consumer-centric businesses like Jio, retail and other technology businesses are expected to see strong growth, he says.

3) In the immediate term, a price increase by Jio would benefit its average revenue per user, he added. Mr Bhasin also remains positive on Bharti Airtel.

4) Reliance Jio, which has a user base of about 35 crore users, had posted a stand-alone profit of 990 crore for the quarter ended September 30 on revenue of 12,354 crore.

5) Last month, RIL announced that it will set up a holding company for its digital services business, including telecom, potentially making way for the entry of a strategic investor.

6) RIL will infuse over 1 lakh crore in the new company in the form of so-called optionally-convertible preference shares. Following the equity infusion, Reliance Jio will transfer liabilities worth over 1 lakh crore to the subsidiary of the parent, turning Jio almost debt free by March 31, 2020, excluding airwave-related liabilities.

7) Mukesh Ambani had earlier this year announced plans to cut RIL's net debt to zero in 18 months through measures, including a stake sale in the oil-to-chemicals business to Saudi Aramco. RIL had in August also announced a deal that gives the European oil major a 49% stake in the Indian conglomerate’s fuel retail business.

8) With likely receipt of 1.1 lakh crore from Aramco and BP in FY21, RIL is on course to achieve its target of zero net debt, says Edelweiss Securities, which has a buy rating on the stock with target price of 1,716/share.

9) RIL operates the world’s biggest oil-refining complex in Jamnagar, Gujarat, which can process low-quality crude and turn it into higher-grade fuels, partly protecting it from volatility in prices.

10) Last month, BofAML in a report said that RIL can become the first Indian company to achieve a market capitalisation of $200 billion on the back of its new commerce venture and fixed broadband business. (With Agency Inputs)