Shares of several Kolkata-headquartered companies, including Baazar Style Retail, Senco Gold and others, jumped up to 9% on Monday as counting of votes in the West Bengal Assembly elections signalled a strong lead for the BJP, which has now crossed the majority mark of 148 seats. According to latest Election Commission data, the BJP is leading in 193 seats, surpassing the majority mark by 45 seats, while the ruling party Trinamool Congress (TMC) is leading in 94 seats. Chief Minister Mamata Banerjee is currently leading from Bhabanipur against BJP's Suvendu Adhikari, with the latest trends showing Banerjee consolidating her lead by 17,371 votes after seven rounds of counting. It is important to note that these are only early trends and the final outcome will be available later.
Earlier in April this year, the BJP unveiled its election manifesto, promising ₹3,000 in monthly financial assistance for women heads of families, a ₹3,000 monthly allowance for unemployed youth, and ₹15,000 for youths preparing for competitive exams, among others. As reported by The Economic Times, the BJP's projected victory in the state Assembly election and subsequent payments may have boosted hopes for increased discretionary spending in the state, which, in turn, lifted stocks deriving a major portion of their revenue from there.
Baazar Style Retail shares jumped more than 9% to hit a 52-week high of ₹424.15 apiece on the NSE on Monday. According to The Economic Times, the Kolkata-headquartered retail chain has 252 total stores as of December 31, 2025, with the largest number in West Bengal at 94 stores, followed by Assam (38) and Odisha (34). Senco Gold saw its share price rally nearly 11% to ₹347.35 apiece, with around 105 out of its total store count of 196 located in West Bengal as of December 31, 2025. CESC, the Kolkata-based flagship company of the RP-Sanjiv Goenka Group, which supplies electricity to Kolkata and other parts of West Bengal, rallied over 9%. Bandhan Bank shares jumped 7%, while Rossell India, McLeod Russel India, Dhunseri Tea and others saw their share prices rise up to 5%.
According to Ishan Tanna of Ashika Capital, better Centre-state alignment in Bengal could improve project execution and policy implementation, which may support capex-linked sectors. As reported by The Economic Times, analysts advise caution regarding the sustainability of the rally. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, stated that "Today's market action may be unduly influenced by the state election results, with focus on West Bengal. But it is important to note that this will only have a very short-term sentimental impact. The real market trend will be guided by the crude oil prices, which, in turn, will be decided by the news and happenings in West Asia."
