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New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

Domestic flights resumed operations on a truncated schedule on Monday with the first aircraft departing from the Delhi Airport for Pune, more than two months after a nationwide lockdown was announced to combat COVID-19.

The first flight to take off was an IndiGo aircraft to Pune, flying passengers stranded in the national capital since the lockdown was announced on March 24.

Passengers were screened at the airport with electronic thermometers, and revised protocol for air travel that included santisation of luggage through ultra-violent scanners, and maintaining physical distancing.

Only asymptomatic passengers were allowed to enter the airport.

Passengers were also seen wearing face masks and face shields given to them at the embarkation point by the airline to minimise the chances of infection while onboard.

The first flight arrived at Delhi Airport from Ahmedabad – a SpiceJet aircraft – at around 8:00 am.

BJD Lok Sabha member Anubhav Mohanty was among those who took the Air Vistara flight to Bhubaneshwar that departed Delhi airport at 6:50 am.

The first flight to take off from Mumbai was an IndiGo aircraft that departed for Patna at 6:45 am, while passengers from Lucknow were the first to reach the financial capital on an IndiGo aircraft that touched down at 8:20 am.

The food & beverage and retail outlets, which were closed for the past 63 days, opened at Terminal 3 of Delhi’s Indira Gandhi International (IGI) Airport.

The flight services resumed after a day of long and hard negotiations between the Centre and the states on Sunday.

All states finally agreed to accept at least some flights but announced different quarantine and self-isolation rules for arriving passengers to address apprehension about infections being brought in from other cities.

The Centre had issued guidelines for all modes of domestic travel that advised all asymptomatic passengers to self-monitor their health parameters for 14 days on completion of the journey and report to health authorities if they displayed any symptoms for COVID-19.

However, the Centre had allowed state governments to prescribe their own health protocols for disembarking passengers which led to differential guidelines across the country.

The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.

India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.

"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.

The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.

India's growth rate was 6.8 per cent in 2018-19.

The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.

India's performance follows a global trend of lowered growth weighed down by developed economies.

The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.

Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.

The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.

The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."

It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."

The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."

In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.

In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.

But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.

Bangladesh is expected to grow by 7.3 per cent in the next financial year.

Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.

The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.

Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.

Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.