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Till now, enquiries carried out by the FAIU pertained to hidden assets of residents - their overseas bank accounts, shareholdings in closely held foreign firms and links with discretionary trusts floated in tax havens.

"This is a combined impact of a rebound in industry-wide demand in India, a low base effect for some brands, and the visibility and mindshare advantage global brands have," said Devangshu Dutta, founder of Third Eyesight, a strategy consulting firm.

Mobility data in China is showing the impact of a resurgence in COVID-19 cases," ANZ analysts wrote in a research note Monday. "This remains a headwind for oil demand that, combined with weakness in the U.S. dollar, is creating a negative backdrop for oil prices.

This is the second pharma merger and acquisition (M&A) transaction that has been called off or postponed recently due to market volatility and valuation mismatch. Hyderabad-based Aurobindo Pharma had also scrapped the demerger and sale of its injectables arm Eugia Pharma Specialities to Blackstone earlier this year.

In October, the government had invited expressions of interest (EoI) for a stake sale, along with the transfer of management control in IDBI Bank. The government, along with the Life Insurance Corporation (LIC), will sell 60.72% stake in the lender.

Bank of India (BoI) was the last among the lenders to give its assent to the plan after a board meeting last week, clearing the decks for a settlement with the lenders.

With regard to direct taxes, there is a need to "fix the capital gains on all fronts. Second is the personal income tax and the third is to rewrite the code itself to simplify it," Bajaj told ET in an interview. "If you do that, litigation will reduce," he said, laying down the agenda for reform.

Taking cognisance of the charge sheet, a special CBI court last week ordered that all 75 accused in the case be summoned. "Investigation at the overseas level has also to be conducted to trace the trail of funds of DHFL," said the court order.

In the second quarter of the current financial year, the net profit of the lender stood at Rs 13,265 crore, higher by 74 per cent compared to the previous similar period.

"Chess teaches you to humbly accept mistakes and learn from them. For that matter, any sport teaches you that. Market participants should not give too much importance to a single trade. If you want peace, always plan your exits. If you are wrong, get out and learn from your mistakes."