Shares of state-owned mini ratna Indian Railway Catering and Tourism Corporation (IRCTC) made a stellar debut on Monday with listing gains of 128%. The stock ended the day at `728, which is more than double its issue price of `320. At closing, the newly-listed company’s market capitalisation stood at `11,658 crore, which makes it more valuable than other leading listed financial companies. This is the best listing in two calendar years, even as five other companies have clocked listing gains over 100%, including Avenue Supermarts, which had jumped 114% on the listing day.

Ashok Leyland (AL) has corrected significantly (price erosion of more than 60% from its highs of `167). We believe its CMP has priced in most of the negative factors (liquidity issues due to the NBFC crisis, one of the worst demand slowdowns, axle load norms) that led to the decline. We believe having priced in most of the negative factors, the sequential increase in vehicle sales due to discounts, festive season buying and pre-BS6 buying would start reflecting in prices as month-on-month demand picks up.

Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and SoftBank Group Corp., a person familiar with the matter said, describing a mega-deal that will raise the temperature in India’s increasingly heated financial payments arena. Rob Citrone’s Discovery Capital Management is also in discussions to join a funding round that values the country’s top online financial services firm at $16 billion, the person said, asking not to be identified talking about a private deal.

The Reserve Bank of India (RBI) has imposed a penalty of `1 crore on Lakshmi Vilas Bank (LVB) for non-adherence to certain provisions of Income Recognition and Asset Classification (IRAC) norms.

In a disclosure to stock exchanges, LVB said the fine was imposed for non-adherence to guidelines on IRAC norms and divergence in respect of two non-performing assets accounts aggregating to `169.50 crore for the year ended March 2017.

Mortgage major Housing Development Finance Corporation on Monday reduced its retail prime lending rate (RPLR) on housing loans by 10 basis points, making loans cheaper for all its existing customers.

The RPLR, on which its adjustable rate home loans are benchmarked, would be reduced by 10 basis points from October 15, 2019, according to a press statement. New rates offered by the lender will now range from 8.25% to 8.65%.

International Cricket Council (ICC) on Monday scrapped the boundary count rule and in case of a super over tie there will be a repeated super over until one team has more runs than the other.

Following on from a recommendation from the ICC Cricket Committee, the Chief Executives' Committee agreed that the use of the super over as a way to decide results at ICC events will be retained.

Facebook officially moved forward with its plans Monday to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from US regulators and politicians.

The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members on Monday at the organization's inaugural meeting in Geneva.

There was a time when development economists struggled to win Nobel Prizes. I was at college in New Delhi when Amartya Sen received the award in 1998 and the reaction was electric: Sen was the first development economist to win in my lifetime, and certainly the first who had spent a career thinking about welfare and poverty. That award was one of the reasons I stuck to economics after graduating.

The Board of Control for Cricket in India is for the first time in its 91-year history poised to have a former India captain as its president when the much delayed annual general meeting takes place in Mumbai on October 23.

According to The Telegraph’s sources, Sourav Ganguly is set to become the board chief following high drama at the Trident in Mumbai on Sunday evening.

Private sector lender ICICI Bank today launched of FD Health, a fixed deposit (FD) offering the dual-benefit of investment growth via FD and protection through a critical illness coverage. For investors in FD Health, ICICI Bank will offer the insurance cover free of cost for the first year and thereafter, they can renew it.

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