Shares of Reliance Industries on Monday surged to an all-time high with its market cap zooming past the Rs 12-lakh-crore-mark after it announced the Qualcomm investment in Jio Platforms.

Gains in the index heavyweight came on a day the bellwether indices gained in early trades on hopes of a rate cut from the RBI, but came off these highs.

The 30-share Sensex finished 99.36 points, or 0.27 per cent, higher at 36693.69, while the NSE Nifty closed 34.65 points, or 1.15 per cent, up at 10802.70.

The RIL scrip settled with gains of 3 per cent at Rs 1,934.30 at the BSE, a day after it announced that Qualcomm Ventures, the investment arm of Qualcomm Inc, will be investing up to Rs 730 crore in Jio Platforms for a 0.15 per cent equity stake.

During the trading session, the share hit a new record of Rs 1947. The gains in the counter gave it a market cap of Rs 12,26,231.01 crore. RIL is thus the 53rd most valuable scrip in the globe.

On the NSE, the RIL stock gained 3.22 per cent to close at Rs 1,938.70. During the day, it rose 3.70 per cent to a lifetime high of Rs 1,947.70.

Market circles are keenly awaiting Mukesh Ambani’s address at the annual general meeting on Wednesday, while analysts are optimistic about its prospects.

High-tech meet

RIL’s first online AGM will be held on a brand-new virtual platform that can log in more than 1 lakh shareholders from 500 locations simultaneously.

Shareholders can now simply log into the event live, listen to the plans and initiatives and comment and participate too, company sources said.

For easy onboarding, RIL has launched an educative Chatbot via Whatsapp number +91-79771-11111.

The Chatbot is equipped to answer queries and guide shareholders, prospective investors, media, and general public with accurate and immediate information on the AGM. A Chatbot works as a 24x7 helpdesk, but this one can handle 50,000 people simultaneously via conversational text and video, they said.