Mumbai, Oct. 19 -- The Mukesh Ambani-led Reliance Industries Ltd (RIL) has become the first Indian company to hit the 9-lakh crore (trillion) market capitalization mark after its shares rose nearly 2% to 1,423 on Friday.

However, at close of trade, the company's market capitalisation settled at 8.97 lakh crore.

Shares of the country's most valued company rose by 1.37% to close at 1,415.30 ahead of its earnings announcement. During the day, it spurted 2.28% to a record 1,428.

The shares have surged nearly 26% since January.

India's benchmark Sensex Index rose 0.6% or 246.32 points to hit 39,298.38 points.

The company is expected to report strong earnings in the September quarter on the back of recovery in refining margins, which is like...