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Reliance becomes 1st Indian firm to cross $200 bn in market value Asia’s richest man Mukesh Ambani’s Reliance Industries has become the first listed Indian company to cross $200 billion in market capitalisation. Shares of the oil-to-telecom conglomerate surged over 8% to a record high after Bloomberg reported that it’s offering to sell a $20 billion stake in Reliance Retail to Amazon. India’s second-most valuable company TCS is worth $119 billion.

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