Mukesh Ambani-led Reliance Industries Ltd (RIL) created a new benchmark on Friday by crossing the market capitalisation of Rs 9 lakh crore.

The surge in market capitalisation and share prices comes ahead of the company`s second-quarter results to be announced later in the day.

Around 11.50 am, RIL`s market capitalisation was at Rs 9,00,317.35 crore. Shares of the company also rose to a 52-week high of Rs 1,428 per share.

At 11.50 am, the shares of RIL were trading at Rs 1,420, higher by Rs 23.85 or 1.71 per cent from the previous close of Rs 1,396.15.