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Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

Senior BJP leader and Maharashtra Deputy Chief Minister <keyword id="6355042" type="General" weightage="100" keywordseo="Devendra-Fadnavis" source="Orion">Devendra Fadnavis</keyword> will take decisions on <keyword id="549985" type="General" weightage="20" keywordseo="seat-sharing" source="Orion">seat-sharing</keyword> and <keyword id="22753690" type="General" weightage="20" keywordseo="negotiations-with-allies" source="Orion">negotiations with allies</keyword> for the upcoming assembly polls in the state, a party leader has said. The move aims to prevent undesired delays by streamlining preparations for the assembly elections due in a few months, BJP's Mumbai unit chief <keyword id="6367689" type="General" weightage="20" keywordseo="Ashish-Shelar" source="Orion">Ashish Shelar</keyword> told reporters on Sunday. "The core committee (of the state unit) has met in Mumbai to delegate all decision-making powers concerning seat-sharing and the selection of assembly constituencies to Fadnavis," he said. Party observer and Union minister Bhupender Yadav, BJP national secretary Vinod Tawde, Union minister and Mumbai North MP Piyush Goyal also attended the meeting. Of the 288 assembly seats in Maharashtra, the BJP won 104 in 2019. Shelar confirmed finalisation of the "formula for winning, besides the planning and seat-sharing arrangements with the allies". "Fadnavis has been granted full authority in this regard," he said. The BJP-led Mahayuti, also comprising Chief Minister Eknath Shinde's Shiv Sena and the NCP headed by Ajit Pawar, won only 17 of the 48 Lok Sabha seats in the state in the recent parliamentary polls. The BJP's tally came down to 9 from 23 five years ago. The Maha Vikas Aghadi, consisting of the Congress, Shiv Sena (UBT) and NCP (SP), bagged 30 seats. Shelar said, "We have decided to save time by streamlining the planning, discussions, and decision-making processes with all the NDA constituents to finalise the candidates. Once this is done, we can begin preparations for the assembly polls. The list of candidates will be released at the appropriate time." After the BJP's Lok Sabha tally came down to 9 in Maharashtra, Fadnavis had offered to quit the deputy CM's post to enable him to focus on party work ahead of assembly elections. Later, after a party meeting where state BJP legislators passed a resolution reposing faith in him, Fadnavis said he would continue to work.

Maharashtra polls: Deputy CM Devendra Fadnavis to decide on seat-sharing, negotiations with allies

The <keyword id="19895782" type="General" weightage="20" keywordseo="Election-Commission" source="keywords">Election Commission</keyword> has received eight applications from aggrieved <keyword id="19902220" type="General" weightage="20" keywordseo="candidates" source="keywords">candidates</keyword>, including those from the <keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP" meta.hostid="153" meta.entityid="BJP">BJP</keyword> and the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="153" meta.entityid="Congress">Congress</keyword>, for verification of tampering or modification in micro-controller chips embedded in the EVMs post declaration of Lok Sabha election results on June 4. Terming the suspicion of manipulation of the electronic voting machines "unfounded", the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> had on April 26 rejected the demand for reverting to the old paper ballot system. But at the same time, the top court had opened a window for the aggrieved unsuccessful candidates securing second and third places in the poll results and allowed them to seek verification of micro-controller chips embedded in five per cent EVMs per assembly constituency on a written request upon the payment of a fee to the poll panel. BJP's Ahmednagar (Maharashtra) candidate Sujay Vikhe-Patil has sought verification of the machines from 40 <keyword id="20300567" type="General" weightage="20" keywordseo="polling-stations" source="keywords">polling stations</keyword>. Vikhe-Patil had lost to Nilesh Lanke of NCP (Sharad Pawar) faction. A YSRCP and a DMDK candidate too have applied for the verification, according to data shared by the poll panel. According to the EC, eight parliamentary seats spread across six states are involved. The total number of polling stations for which verification has been sought is 92. Candidates who come second or third and seek verification of the EVMs will have to pay Rs 47,200 per EVM set, according to the standard operating procedure issued by the EC on June 1. According to the EC's Standard Operating Procedure (SOP), the cost submitted by manufacturers BEL and ECIL to carry out EVM "check and verification" is Rs 40,000 (plus 18 per cent GST) per set of EVM. "In addition to the cost incurred by the manufacturers, there are also administrative costs like cost of labour to shift the units, CCTV coverage, electricity charges, videography costs and various other operational costs at the district election officer level," the document said. It, however, said to make the <keyword id="21143428" type="General" weightage="20" keywordseo="verification-process" source="keywords">verification process</keyword> "more accessible" and inclusive in compliance to the referred mandate of the Supreme Court, it is decided that instead of going purely by the actual economic costs incurred, the administrative expenditure on <keyword id="22122362" type="General" weightage="100" keywordseo="EVM-verification" source="keywords">EVM verification</keyword> will be treated as "election expenditure and borne by the central or state government, as the case may be". "Accordingly, the administrative charges will be waived for the applicants -- the same shall not be charged to the applicants," it noted. The charges for EVM verification to be paid by the applicant candidate is for the current financial year 2024-25 -- till March 31, 2025, it said. An EVM set has at least one Ballot Unit, one Control Unit and a <keyword id="19975285" type="General" weightage="20" keywordseo="vvpat" source="keywords">VVPAT</keyword> machine. Separately, YSRCP and BJD candidates from Andhra Pradesh and Odisha respectively have also applied for EVM check following the announcement of assembly results on June 4. Assembly polls in Andhra Pradesh, Odisha, Sikkim and Arunachal Pradesh were held along with the Lok Sabha elections. In the verification exercise for assembly poll results, total assembly constituencies involved are three where verification has been sought in 26 polling stations. According to the SOP, the concerned state chief electoral officer (CEO) was required to communicate to the manufacturers the consolidated list of applicants within 30 days of the date of declaration of results -- by July 4. The CEOs have already conveyed the same to the manufacturers 15 days ahead of the schedule, the EC said. The technical SOP enumerating the methodology and steps for checking and verification of burnt memory/ micro-controller of the EVM units will be issued by the EC in due course.

EC receives applications for EVM verification on 8 LS seats in 6 states

Mumbai (<keyword id="19897316" type="General" weightage="20" keywordseo="maharashtra" source="keywords">Maharashtra</keyword>) [India], February 13 (ANI): Former Maharashtra Chief Minister <keyword id="20501102" type="General" weightage="20" keywordseo="ashok-chavan" source="keywords">Ashok Chavan</keyword> joined the Bharatiya Janata Party at the party's office in Mumbai on Tuesday. Deputy Chief Minister Devendra Fadnavis, party leader Ashish Shelar and Maharashtra <keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword> president Chandrashekhar Bawankule were also present at the occasion. Former <keyword id="19895371" type="General" weightage="20" keywordseo="congress" source="keywords">Congress</keyword> MLC Amar Rajurkar, who resigned from the party on Monday, also joined the BJP today. Asserting to make a new change in his 38-year political career <keyword id="20559325" type="General" weightage="20" keywordseo="chavan" source="keywords">Chavan</keyword> said, "Today, I am making a new change in my 38 years of politics by joining BJP. To join the country's development journey under the leadership of Prime Minister Modi." "I will ensure that the BJP gets the full benefit of my experience and understanding in politics. After leaving Congress, some people criticized me, some people also supported me, some people also made different comments, but I would like to say once that I will take all these things together and move forward positively. Today I have given my form to become BJP member which has been accepted by Bawankule ji," he added. "Maharashtra politics has its own color, in which we also respect our opponents. When Devendra Fadnavis was the leader of the opposition and we were in power, we used to cooperate with each other positively and even today we do positive work to take the state and the country forward," The former CM said that he is ready to accept any post the party gives adding that he has not demanded anything. "I will accept whatever role the party gives me. I have not made any demand for any role or post from the party. I will accept whatever the party has decided for me," Chavan said. "The decision I have taken is my personal decision and I am just the beginning, so at the moment I am not saying much on this subject, I am ready to fulfill whatever responsibility will be given to me positively, that's all I would like to say," he added. According to sources, Ashok Chavan is likely to be BJP's Rajya Sabha candidate from Maharashtra putting Congress in a tight spot. Ashok Chavan resgined from the primary membership of the Congress party on Monday. Chavan submitted his resignation to Maharashtra Pradesh Congress Committee President Nana Patole. "I have resigned from the Assembly membership as an MLA. I have given my resignation to the Speaker. I have resigned from the Congress Working Committee and the Congress primary membership," Chavan told reporters after resigning from Congress on Monday. Ashok Chavan was the Vice President and General Secretary of the Maharashtra Pradesh Youth Congress Committee from 1986 to 1995. He served the Maharashtra Legislative Assembly for three terms, starting in 1999 and ending in May 2014. He served as the Chief Minister of Maharashtra State from December 8, 2008, to November 9, 2010. On November 9, 2010, the Congress Party asked him to resign from office over corruption allegations relating to the Adarsh Housing Society scam. In the 2014 general elections, Chavan was elected from the Nanded constituency but lost the seat in 2019 Pratap Patil Chikhalikar of the BJP. He is the third big name to desert the Congress ship in Maharashtra. First to go was former South Mumbai MP Milind Deora, followed by former MLA Baba Siddique. (ANI)

Did not demand any role or post, says Ashok Chavan as he joins BJP

The complete list of Chief Ministers in India for 2024

INDIA bloc leaders gathered at <keyword id="19895812" type="General" weightage="20" keywordseo="Jantar-Mantar" source="keywords" meta.keywordsubtype="org" meta.entityname="Jantar Mantar" meta.hostid="153" meta.entityid="Jantar Mantar">Jantar Mantar</keyword> here on Tuesday to demand the release of Delhi Chief Minister <keyword id="19901384" type="General" weightage="100" keywordseo="Arvind-Kejriwal" source="keywords">Arvind Kejriwal</keyword> amid his declining health and hit out at the BJP-led Centre for "suppressing" the voice of <keyword id="19895395" type="General" weightage="20" keywordseo="opposition" source="keywords">opposition</keyword>. They also blamed the Centre for obstructing the work of the Delhi government, therefore leading to the recent incident in Rajinder Nagar where three students died after getting trapped in a flooded basement of a coaching centre. Slogans of "Bharat Mata Ki Jai" and "End dictatorship" were raised during the <keyword id="19895811" type="General" weightage="20" keywordseo="protest" source="keywords">protest</keyword> rally called by the <keyword id="19914482" type="General" weightage="20" keywordseo="AAP" source="keywords" meta.keywordsubtype="org" meta.entityname="AAP" meta.hostid="153" meta.entityid="AAP">AAP</keyword>. CPI(ML) Liberation leader Dipankar Bhattacharya said three senior AAP leaders -- Kejriwal, Manish Sisodia and Satyendar Jain were put in jail as "part of a conspiracy". He also accused the Centre of obstructing the work of the Delhi government, and held them responsible for the situation in the national capital, including the Rajinder Nagar coaching centre deaths. "The Modi government is responsible for the anarchy in Delhi. This anarchy took the lives of the three <keyword id="20217536" type="General" weightage="20" keywordseo="UPSC-aspirants" source="keywords">UPSC aspirants</keyword> in Rajinder Nagar. <keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP" meta.hostid="153" meta.entityid="BJP">BJP</keyword> took the lives of three UPSC aspirants," Bhattacharya said during the rally. "They tried to end AAP, weaken Delhi government as part of a conspiracy. The elected chief minister is in jail. Umar Khalid and many activists are in jail in false charges in Delhi riots. Bhima Koregaon fake case, father Stan Swamy was in jail and he even died while in custody. There is a huge conspiracy against leaders, activists," he said. The BJP-led Centre is "trying to suppress the voice of those who oppose them", he said. "Six months ago when Arvind ji, Hemant ji were arrested, we knew it was a conspiracy because Lok Sabha elections were there," he said. "Hemant ji came out, there was an appeal to stop his bail but it was dismissed. Kejriwal ji was released for less than a month. Now though he has been given a bail there is a conspiracy to keep him in jail," he said. "It is a conspiracy to finish a democratically elected government and a political party," Bhattacharya said, urging the people to give their reply to the BJP in upcoming assembly polls in Haryana, Maharashtra and Jharkhand by defeating the BJP. "The recent mandate has proved that people won't tolerate tyranny. We will ensure justice,"he added. Communist Party of India general secretary D Raja also demanded the immediate release of the Delhi chief minister, and expressed concerns about his health. "After BJP's coming to power, democracy is no longer 'for' the people, democracy is 'far' from people, democracy is not 'of' the people, it is 'off' the people, and it is not 'by' the people, it is 'buy' the people," Raja said. "Kejriwal is one of the victims of the central agencies used by the Modi government. Can we allow this? How much longer can we tolerate this situation in the country. Kejriwal is not well and his health has deteriorated," he said. AAP Delhi convener Gopal Rai said Kejriwal's sugar levels are going down in custody. "He was granted bail by trial court and Supreme Court but a conspiracy was hatched to keep him in jail. Why does BJP want to put opposition leaders in jail? Who is responsible for the deaths of the three UPSC aspirants?" Rai said. "When LG is being asked about the incident, he is quiet. The BJP, which is demanding Kejriwal's resignation, snatched away the powers of the Delhi government. They want rights but run away when they are held accountable," he charged. has been accusing the BJP of "conspiring to kill" Kejriwal in jail and cited his medical report to show that his sugar levels have fallen 34 times between June 3 and July 7. Nationalist <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="153" meta.entityid="Congress">Congress</keyword> Party - Sharadchandra Pawar (NCP-SP) chief Sharad Pawar and Deputy Leader of Congress in Lok Sabha Gaurav Gogoi are also present in the INDIA bloc rally. Congress Rajya Sabha MP Pramod Tiwari referred to Kejriwal's wife Sunita as a "symbol of resistance" as he began his address. "We have come to give complete moral support to AAP and Kejriwal on behalf of Congress president Mallikarjun Kharge, and party leaders Sonia Gandhi and Rahul Gandhi in the struggle against illegal arrest of Arvind Kejriwal. The arrest of Kejriwal in an illegal and unconstitutional manner indicate nothing but the bad intentions of the BJP," he alleged. Tiwari said it was "height" of inhumanity to keep Kejriwal in jail despite his medical reports showing dip in his blood sugar to a dangerous level. The Congress and AAP had fought the recent Lok Sabha elections in Delhi in alliance. AAP had fielded candidates on four seats and Congress on three seats. However, the alliance drew a blank. Gogoi warned the BJP and its leaders saying they cannot scare the opposition whether it is AAP, Congress or any other party. "Their illusion lies shattered with this rally. If fair Lok Sabha elections had been held in 2024, the BJP would have been in opposition and we would have been in power. The BJP-led government is not going to complete its five-year term," he stressed. Kejriwal was arrested on March 21 by the Enforcement Directorate (ED) in a money laundering case linked to the alleged excise policy scam and has been granted bail by the Supreme Court. However, he is currently lodged in Tihar in a connected CBI case.

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Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

ANI

Maharashtra polls: Deputy CM Devendra Fadnavis to decide on seat-sharing, negotiations with allies

PTI

EC receives applications for EVM verification on 8 LS seats in 6 states

PTI

Did not demand any role or post, says Ashok Chavan as he joins BJP

ANI

The complete list of Chief Ministers in India for 2024

BI India Bureau

INDIA bloc leaders gather at Jantar Mantar, demand release of Delhi CM Kejriwal

PTI

Maharashtra State Elections winner and leading candidate list 2019

BI India Bureau

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