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Markets

Reliance sets Indian stock market record despite slowing economy

Mukesh Ambani's group crosses 10tn rupee line as Sensex hits all-time high

Mukesh Ambani's Reliance Industries has become the 14th-most valuable listed company in Asia.   © Reuters

MUMBAI -- Billionaire Mukesh Ambani's conglomerate Reliance Industries on Thursday became the first Indian company to reach a market capitalization of 10 trillion rupees ($140 billion), ahead of data expected to show a deep slowdown in Asia's third-largest economy

The feat by Reliance Industries, which spans oil, chemicals, telecommunications and retail, suggests the country's most valuable company is weathering the slump.

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