A Reuters report said Iran has informed the UN Security Council and the International Maritime Organization that ‘non-hostile’ vessels may transit the Strait of Hormuz if they coordinate with Iranian authorities.
Crude oil futures traded lower on Wednesday morning following reports that the US is pushing for diplomatic efforts to end the war with Iran.
At 9.58 am on Wednesday, June Brent oil futures were at $95.40, down by 4.82 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $88.37, down by 4.31 per cent. April crude oil futures were trading at ₹8,360 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹8,736, down by 4.30 per cent, and May futures were trading at ₹8,151 against the previous close of ₹8,514, down by 4.26 per cent.
US President Donald Trump told reporters that the US was talking to the right people in Iran to end the war in the West Asia region. In a post on X, Mohammad Bagher Ghalibaf, Speaker of the Parliament of Iran, had denied holding talks with the US in this regard.
A New York Times report said on Tuesday that the US has sent a 15-point proposal to Iran to end the war in West Asia. Israel’s Channel 12, which quoted three sources, said the US wants a 30-day ceasefire to discuss the 15-point plan with Iran.
A Reuters report said Iran has informed the UN Security Council and the International Maritime Organization that ‘non-hostile’ vessels may transit the Strait of Hormuz if they coordinate with Iranian authorities.
There were also reports that Trump has ordered the deployment of around 2,000 troops to the West Asia region in a bid to restore normalcy over the Strait of Hormuz.
April natural gas futures were trading at ₹269 on MCX during the initial hour of trading on Wednesday against the previous close of ₹276.40, down by 2.68 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), April guargum contracts were trading at ₹10,200 in the initial hour of trading on Wednesday against the previous close of ₹10,123, up by 0.76 per cent.
April turmeric (farmer finished) futures were trading at ₹14,250 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹14,168, up by 0.58 per cent.
Kotak Mahindra Bank will conduct the business of its wholly-owned subsidiary Kotak Mahindra Investments Ltd (KMIL) within the bank from April 1, 2026, as part of a group simplification strategy.
| Photo Credit:
ADNAN ABIDI
Kotak Mahindra Bank said the business activities of Kotak Mahindra Investments Limited (KMIL), a wholly-owned subsidiary of the Bank, will be conducted departmentally within the Bank from April 1, 2026, with the move in the interest of group simplification and to drive operational synergies.
Board approves operational shift
The private sector bank, in a regulatory filing, said KMIL has informed it that the aforementioned move was discussed at the KMIL Board of Directors’ meeting held on March 24, 2026.
“The Board of KMIL has unanimously approved that KMIL (a) shall not sanction any new loans with effect from April 1, 2026; and (b) shall continue to service its existing facilities including honouring its obligations under the facility agreements executed on or prior to March 31, 2026,” per the filing.
Compliance with RBI norms
The above decisions will facilitate compliance with the provisions of the RBI Directions by the Bank and are in the interest of group simplification and for driving operations synergies, it added.
As per the provisions set out under the Reserve Bank of India (Commercial Banks – Undertaking of Financial Services) Directions, 2025, if a bank undertakes a form of business through more than one entity in a bank group, the same shall be done with proper rationale, such as business segmentation/specialisation, duly recorded and approved by the board of such bank.
Financials and impact
KMIL’s Net total income and profit after tax (as per IGAAP) for FY 2024-25 stood at Rs. 795 crore and Rs. 501 crore, respectively (approximately 1.0% of the consolidated Net total income and approximately 2.3% of the consolidated profit after tax of the Bank, respectively). Its net worth (as per IGAAP) as on March 31, 2025, stood at Rs. 3,842 crore (approximately 2.4% of the Bank’s consolidated net worth).
The impact of the above decisions on the Bank’s consolidated turnover, profit after tax, and net worth is not material, according to the filing.
A blue-toned stock image showing coin stacks, a bar-style chart, and a rising line to convey financial growth, market trends, and investment analysis in a professional business context.
| Photo Credit:
sankai
tock Market today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 25th March 2026.
Indian equity benchmarks, Sensex and Nifty, opened firm on Wednesday, tracking improved global sentiment. At 9:26 a.m., the BSE Sensex was up 881 points at 74,949, while the NSE Nifty gained 299 points to 23,211.
Optimism around potential US-Iran negotiations has eased crude oil prices, lending support to equities. However, caution persists as Iran has denied formal talks, keeping geopolitical uncertainty elevated.
Domestic volatility has softened slightly but remains above recent averages, limiting aggressive positioning. Continued foreign institutional investor outflows also weigh on market confidence.
While broad-based buying and short covering have supported the rebound, the sustainability of gains will depend on clarity around geopolitical developments, crude price trends, and stabilisation in global risk sentiment.
Key technical cues
Immediate resistance: 23,300–23,350; breakout can trigger short covering towards 23,500
Key support levels: 22,900–22,850; below this, weakness may resume
Volatility check: India VIX still elevated; expect intraday swings despite positive open
FII activity: Continued selling remains a major overhang; rallies may face selling pressure
Sector watch: Metals, defence, PSU and energy stocks may outperform on global cues
Crude impact: Cooling oil prices supportive; any spike may reverse sentiment quickly
Bank Nifty levels: Support near 48,500; resistance around 49,500–50,000
Trading strategy: Buy on dips near support; avoid chasing gap-up unless breakout sustains
March 25, 2026 09:32
PG Electroplast resolves LPG supply issues, normalizes AC production; shares jump over 6% on NSE
PG Electroplast: “To ensure continued production/supplies to its customers, PGEL was able to identify and install at its production facilities alternative solution to LPG and post which the current Room AC production is almost normalized and with the current solution company has been able to address the LPG challenges to large extent for the time being, it said in a exchange filing.
Shares zoomed over 6% on the NSE to Rs 532.50
March 25, 2026 09:31
Lupin receives tentative US FDA approval for Pitolisant tablets; shares flat on NSE
Lupin Receives Tentative Approval from U.S. FDA for Pitolisant Tablets
Shares flat on the NSE at Rs 2,344.30
March 25, 2026 09:31
Crude oil futures fall on reports of US efforts to end war with Iran
Crude oil futures fall on reports of US efforts to end war with Iran
Crude oil futures decline as US seeks diplomatic solutions to the Iran conflict, impacting prices on MCX and global markets.
March 25, 2026 09:30
Nifty Today: Top gainers, losers at this hour of trade
Sammaan Capital gets RBI nod for Rs 8,850 crore Avenir Investment deal with change of control
SAMMAAN CAPITAL: CO HAS RECEIVED RBI APPROVAL FOR THE PROPOSED ACQUISITION OF A CONTROLLING STAKE BY AVENIR INVESTMENT, INCLUDING INDIRECT CHANGE OF CONTROL OF ITS UNIT, THE TRANSACTION INVOLVES A RS. 8,850 CR PREFERENTIAL INVESTMENT
March 25, 2026 09:26
OPENING BELL: Sensex jumps 750 points, Nifty rises over 230 points in early trade
Sensex soared 749.93 pts or 1.01% to 74,818.38 at 9.17 am after opening at 74,652.01 from the previous close of 74,068.45. Nifty 50 gained 237.80 pts or 1.04% to 23,150.20.
March 25, 2026 09:25
Crude oil futures fall over 4% as US pushes diplomatic efforts to end Iran war
Crude oil futures traded lower on Wednesday morning following reports that the US is pushing for diplomatic efforts to end the war with Iran. At 9.13 am on Wednesday, June Brent oil futures were at $96.11, down by 4.11 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $89.10, down by 3.52 per cent. April crude oil futures were trading at ₹8377 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹8736, down by 4.11 per cent, and May futures were trading at ₹8176 against the previous close of ₹8514, down by 3.97 per cent.
March 25, 2026 09:07
Bitcoin holds above $70,000 as optimism over US–Iran de-escalation supports crypto market recovery
“Bitcoin is trading above the $70,000 level, with recent price action reflecting a shift in market sentiment as optimism around potential U.S.–Iran de-escalation supports crypto market. The rebound in broader crypto markets, alongside strength in altcoins, indicates that buyers are gradually regaining control after recent volatility.
While macro factors such as rising yields and oil-driven inflation have capped aggressive upside in the near term, Bitcoin’s ability to hold key support levels suggests underlying resilience. The market is transitioning from a reactive phase driven by geopolitical uncertainty to a more balanced environment where positive triggers are beginning to outweigh downside risks.
If this momentum sustains, the current structure points toward a continuation of the recovery, with Bitcoin likely to attempt a move higher as confidence improves across the crypto market. The recent pickup in buying interest signals that dips are being utilised as accumulation opportunities, reinforcing the broader bullish undertone.” – Avinash Shekhar, Co-Founder & CEO, Pi42
March 25, 2026 09:06
S&P Global raises India growth forecast to 7.1% for FY27, flags risks
S&P Global raises India growth forecast to 7.1% for FY27, flags oil and geopolitical risks
S&P Global raises India FY27 growth forecast to 7.1%, but flags risks from oil prices, geopolitics and inflation as growth is seen moderating.
March 25, 2026 08:56
US stocks end lower on Middle East, rate worries; Indian markets rebound as ceasefire hopes lift sentiment
US stocks closed lower as worries over Middle East stability and interest rates showed up again. Dow fell 0.28%, S&P fell 0.37%, Nasdaq dropped 0.84% and the Small cap Russell 2000 outperformed with gains of 0.45%.
USD index moved a bit higher at 99.21, 10 year bonds held steady at 4.36% and cboe vix remained in the accelerated zone of close to 27.
Crude futures traded mildly lower amidst volatility as worries over Middle East persisted. WTI traded near 88.30, Brent in and out of 100.
Indian markets recovered some lost ground on hopes of a ceasefire in the Middle East. Sensex gained 1372 points and Nifty added almost 400 points to close above 22900. Most sectors gained on Tuesday as markets build hopes of a resolution in Iran US war.
*Weak Wall Street cues, mixed macros, truncated trading over next 5 days and year-end concerns may dominate trade set up on Dalal Street over next few sessions. Though participants may keenly watch developments in the Middle East and its impact on crude and global trades, pockets of valuation comfort may set some floor on individual names that may start looking at opportunities beyond Q4 results. Continue to build portfolio of quality names and once the cloud over Middle East settles a strong recovery in stock prices may be expected.
March 25, 2026 08:56
EQUITY PREVIEW
HDFC Life (HDFCLIFE): Gets 1.26B Rupees Income Tax Demand
Infosys (INFO): Says Extend Collaboration with University of Nottingham
TVS Motor (TVSL): Approves INR12/Share Dividend
WAAREE Energies (WAAREEEN): Approves Capex of INR39B for Glassmaking Plant
WPIL Ltd ()WPI): Approves Sale/Disposal of Holding in Australian Unit
March 25, 2026 08:35
Merck nears $6 billion all-cash deal to buy Terns Pharma, FT reports
Merck is nearing a roughly $6 billion all-cash deal to buy biotech firm Terns Pharma , the Financial Times reported on Tuesday, citing people familiar with the matter.
Talks between Merck and Terns were at an advanced stage and a deal could be reached in the coming days, the report added. – Reuters
March 25, 2026 08:34
Australian shares rise 2% on mining boost; core inflation slows slightly in February
Australian shares rose 2% on Wednesday and were on course for their biggest daily gain in nearly a year, with miners and banks leading the charge, while investors digested data that showed February core inflation came in a little slower than forecast.
The S&P/ASX 200 index climbed 2% to 8,544.80 by 0041 GMT, heading for its best day since April 10, 2025. The index had closed 0.2% higher on Tuesday. – Reuters
March 25, 2026 08:33
South Korean shares rise 3% on hopes around US-Iran talks
South Korean shares rose 3% on Wednesday, after U.S. President Donald Trump said the U.S. was making progress in its efforts to negotiate an end to the war with Iran.
The benchmark KOSPI was up 170.27 points, or 3.07%, at 5,724.19 as of 0135 GMT. – Reuters
March 25, 2026 08:33
Japan’s Nikkei surges as optimism for Iran peace plan lifts sentiment
Japan’s Nikkei share average climbed roughly 3% on Wednesday, supported by cautious optimism that the Middle East crisis could move toward a potential settlement after recent volatility.
The benchmark Nikkei 225 Index advanced 2.93% to 53,784.43. The broader Topix climbed 2.5% to 3,648.78. – Reuters
March 25, 2026 08:31
Gold climbs more than 2% on softer dollar, easing fears of higher interest rates
Gold rose more than 2% on Wednesday, buoyed by a softer dollar, while a drop in oil prices eased concerns about elevated inflation and higher global interest rates, amid reports of a U.S. plan to end the Middle East war.
Spot gold rose 2.5% to $4,587.09 per ounce as of 0218 GMT. U.S. gold futures for April delivery gained 4.2% to $4,586.10.
The dollar eased, making greenback-priced bullion cheaper for holders of other currencies. – Reuters
March 25, 2026 08:27
5 reasons why gold & silver may lose their glitter this year
5 reasons why gold & silver may lose their glitter this year
If oil prices remain elevated long enough to seep into inflation expectations, the Federal is likely to keep the interest rates higher for longer to curb inflation while seeking to ensure economic growth
March 25, 2026 08:15
Global markets: OpenAI drops Sora video tool, $1 billion Disney deal collapses
OpenAI drops Sora, $1 billion Disney deal collapses amid shift to enterprise AI
OpenAI scraps Sora video tool, ending a $1 billion Disney deal as it pivots to enterprise and coding AI amid rising competition and IPO plans.
March 25, 2026 07:59
TRAI drops 1% turnover penalty proposal, introduces graded fines for telcos
TRAI drops 1% turnover penalty plan, introduces graded fines for telecom operators
TRAI withdraws 1% turnover penalty proposal for telcos, introduces graded fines with caps under revised tariff and accounting rules to ensure balanced regulation.
WATCH: Today’s Stock Recommendation: March 25, 2026
March 25, 2026 07:33
Gift Nifty signals strong start as Trump’s Iran talks boost global sentiment
Gift Nifty signals strong market opening as US-Iran talks optimism lifts global sentiment
Gift Nifty signals a strong market start amid Trump’s Iran talks, but caution remains due to geopolitical uncertainties and FII flows.
March 25, 2026 07:26
18 stocks to watch today: Bharat Electronics Limited, United Spirits, Tata Steel, Jindal Steel and Power in focus
18 stocks in focus today: BEL, United Spirits, Tata Steel, Jindal Steel, HDFC Life in focus
Explore today’s top 18 stocks, featuring key developments in Bharat Electronics, United Spirits, Tata Steel, and renewable energy sectors.
March 25, 2026 07:12
India appoints Kompella Venkata Ramana Murty as SEBI whole-time member for 3-year term
INDIA APPOINTS KOMPELLA VENKATA RAMANA MURTY AS SEBI WHOLE-TIME MEMBER FOR 3-YEAR TERM – GOVT NOTICE
March 25, 2026 07:12
Upcoming Market settlement Holidays
26 Mar – Ram Navmi
31 Mar – Mahavir Jayanti
3 April – Good Friday
14 April – Dr Ambedkar Jayanti
March 25, 2026 07:11
Nomura: Sagility India
Dual proposition: Value with growth
Expect ~12% revenue and ~20% EPS CAGRs over FY26-28F; Cnitiate Coverage at Buy with TP of INR55
March 25, 2026 07:10
MNCL Research: Godawari Power & Ispat Ltd. (GPIL): Approves setting up of 1mntpa Integrated Steel Plant
Mcap: Rs177bn; CMP: Rs263; TP: Rs310; Rating: BUY
What happened: GPIL’s Board has approved the setting up of a 1mntpa integrated steel plant to manufacture iron & steel finished products (heavy & medium structural steel and wire rods). The plant will be located at Sarora, Tilda (Raipur, Chhattisgarh) with an estimated capex of ~Rs70bn, to be funded through a 1:1 debt–equity mix (including internal accruals). The project is expected to be completed in ~3.5 years i.e. 2HFY30.
Our view:
\u00091. The proposed steel plant marks a significant forward integration step for GPIL, moving further up the value chain from pellets/DRI to finished steel (structurals & wire rods). This should enhance value addition and reduce dependency on pellets which can be an over supplied market. GPIL already is approved by Power Grid Corp for use of its structural steel products in transmission projects.
\u00092. We expect an annual Cash flow from operation of Rs16-18bn on meaningful scale up of BESS and CRM business which should be sufficient to cater to the internal requirement of the capex, and should aid debt repayment post commissioning.
\u00093. While the BESS and CRM will take ~3years for complete scaleup, the Steel plant (starting FY30) will continue the growth momentum post the BESS/ CRM project. Remain positive on GPIL’s thesis of long term growth and value addition.
Technicals: Rupee remains vulnerable to further fall
Rupee remains vulnerable to further fall
The Indian rupee faces potential further decline, with limited recovery prospects amid rising crude oil prices and foreign outflows.
March 25, 2026 07:02
US says talks underway with Iran even as missile strikes intensify in West Asia war
US says Iran talks underway as Middle East war intensifies with missile strikes and troop deployment
US signals Iran talks as missile attacks intensify in Middle East war, with troop deployment, Strait of Hormuz tensions and global calls for ceasefire.
March 25, 2026 06:51
US crude futures fall 4% as ceasefire hopes ease oil supply concerns
U.S. crude futures fell about 4% in early trade on Wednesday on the prospect of a possible ceasefire easing disruption to global oil supply, following reports that Washington had sent Tehran a 15-point plan to end the war in the Middle East.
U.S. West Texas Intermediate (WTI) crude futures dropped to as low as $87.80 a barrel at the open and were down $3.49, or 3.8%, at $88.86 a barrel.
WTI climbed 4.8% on Tuesday, before paring gains in volatile post-settlement trading.
March 25, 2026 06:50
Wall Street indexes fall on worries about Middle East war, interest rates
Indexes fall: Dow 0.18%, S&P 500 0.37%, Nasdaq down 0.84%
March 25, 2026 06:43
Trading Guide for March 25, 2026: Intraday supports, resistances for Nifty50 stocks
Day Trading Guide for March 25, 2026: Intraday supports, resistances for Nifty50 stocks
Stay updated with intraday support and resistance levels for Nifty50 stocks with our comprehensive day trading guide.
March 25, 2026 06:42
Stock to buy today: Tech Mahindra (₹1,433) – BUY
Stock to buy today: Tech Mahindra (₹1,433) – BUY
Buy Tech Mahindra stock at ₹1,433; potential rise to ₹1,520-₹1,530 with bullish short-term outlook and key supports identified.
U.S. President Donald Trump looks on as he attends Markwayne Mullin’s swearing-in as Department of Homeland Security (DHS) Secretary, at the White House in Washington, D.C., U.S., March 24, 2026.
| Photo Credit:
Evan Vucci
US President Donald Trump said Iran agreed never to have a nuclear weapon and sent a “significant prize” related to the Strait of Hormuz even as he declared victory in the three-week war.
Speaking to reporters at the Oval Office on Tuesday, Trump claimed Iran was keen to “make a deal” and indicated that Vice President J D Vance, Secretary of State Marco Rubio, Special envoy on Middle East Steve Witkoff and Jared Kushner were leading the negotiations.
The President said that the current Iranian leadership had already undergone significant changes.
“It’s what we really have, regime change. You know, this is a change in the regime because the leaders are all very different from the ones that we started off with that created all those problems,” he said.
Earlier, Trump endorsed a social media post by Pakistan Prime Minister Shehbaz Sharif on facilitating the talks between Iran and the US. Sharif also offered to host the talks for a comprehensive settlement of the ongoing conflict.
“I don’t want to say in advance, but they’ve agreed they will never have a nuclear weapon,” Trump told reporters after the swearing in ceremony of Markwayne Mullin as the new secretary for Department of Homeland Security.
Trump said the Iranian leadership gave the US a “significant prize” related to the Strait of Hormuz and the flow of oil.
“They are going to make a deal. They did something yesterday that was amazing, actually. They gave us a present. And the present arrived today. It was a very big present worth a tremendous amount of money,” the US President said.
“I am not going to tell you what that present is, but it was a very significant prize. And they gave it to us,” he said.
“So that meant one thing to me, we’re dealing with the right people. No, it wasn’t nuclear weapons. It was oil and gas related,” Trump said.
The US President asserted that the war against Iran has been won.
“I don’t like to say this. We’ve won this. This war has been won… It’s like we’re not winning a war where they have no Navy and they have no Air Force and they have no nothing. And we literally have planes flying over Tehran and other parts of their country. They can’t do a thing about it,” Trump said.
He said the US obliterated Iran’s nuclear potential, which could have been used against American allies in the Middle East.
“We obliterated it. Just obliterated their nuclear potential. You would have had them having two weeks after that attack, had we not made the attack (using B-2 bombers). They would have had a nuclear weapon. They would have absolutely used it. And they would have used it on the entire Middle East, including Israel,” Trump said.
Defence Secretary Pete Hegseth said never in history has a modern military been so rapidly and historically obliterated, defeated from day one.
“Never in history has a modern military, Iran had a modern military, a modern Navy, a modern Air Force, modern air defences, leadership, massive bunker. Never has a modern military been so rapidly and historically obliterated, defeated from day one with overwhelming firepower,” Hegseth said.
The 201-page bill, tabled by Chief Minister Bhupendra Patel, will apply to all residents except Scheduled Tribes and groups with protected customary rights.
Gujarat on Tuesday became the second state after Uttarakhand to enact a Uniform Civil Code, passing the Gujarat Uniform Civil Code Bill, 2026, which seeks to govern personal civil matters such as marriage, divorce, succession and live-in relationships across religions. The law will apply to all residents of the state—including those living outside Gujarat—while excluding Scheduled Tribes and groups whose customary rights are constitutionally protected.
Legislation moves quickly after panel report
The 201-page Bill was tabled in the state legislative assembly by Chief Minister Bhupendra Patel, just a week after a state-appointed panel submitted its final report on the need for and contours of implementing a Uniform Civil Code in the state. The move has triggered sharp debate over issues of equality and timing, particularly with local body polls due later this year and Assembly elections scheduled for 2027.
“Today’s development will be etched in golden letters in Gujarat’s history,” Deputy Chief Minister Harsh Sanghvi said, adding that the Uniform Civil Code (UCC) is aimed at ensuring a common set of laws for “all sisters, daughters and mothers” in the state. “The UCC will ensure similar laws for everyone. It is not meant for any one religion, but will provide equal footing for all Indians,” he told mediapersons.
Opposition protests and concerns
However, the passage of the Bill was not smooth. While the Congress opposed the move and called it anti-minority, the Bill had to be passed by a majority voice vote after debates extended beyond six hours. Congress MLA Imran Khedawala told mediapersons that he would lead protests against the Bill in the coming days. On Tuesday, before the UCC Bill was taken up for debate in the Gujarat Assembly, protests erupted in the walled-city area of Ahmedabad, where police quickly detained about 25 persons protesting under the banner of SDPI, who claimed that the Bill was against religious minorities living in the state and violated their respective freedoms. Municipal corporators and members of All India Majlis-e-Ittehadul Muslimeen (AIMIM) also staged a protest in Ahmedabad city.
Key provisions of the UCC
The Bill seeks to provide a uniform legal framework for civil matters irrespective of religion, caste, creed or gender, in line with the directive under Article 44 of the Constitution of India, which calls for a Uniform Civil Code. Among key provisions, the Code standardises rules on marriage and divorce by prescribing uniform grounds for dissolution, including in cases of a spouse’s sexual offences, and enforces monogamy by making remarriage during the subsistence of a marriage punishable under the Bharatiya Nyaya Sanhita 2023. It also introduces a common framework for succession and related civil matters, replacing differing personal law practices with a single legal structure.
Regulation of live-in relationships
The UCC Bill also introduces a regulatory framework for live-in relationships, requiring partners to submit a declaration to a registrar. Residents of Gujarat in such relationships outside the state may also register them, and children born out of these relationships will be recognised as legitimate. The government said the legislation aims to uphold principles of secularism, gender justice and inclusivity, while advancing social reform and strengthening societal unity.
Expert Panel recommends UCC
The state government had constituted a committee chaired by former Supreme Court judge Ranjana Prakash Desai to examine the need for such a law. The panel reviewed existing personal laws, judicial precedents and practices before recommending adoption of the Code.
The constituency has turned into a theatre of intense campaigning, with both the ruling All India Trinamool Congress and the opposition Bharatiya Janata Party stepping up door-to-door outreach and street-level mobilisation
| Photo Credit:
ANI
A towering banner proclaiming ‘She was in power, she is in power, she will remain in power’ greets passers-by in South Kolkata’s Harish Mukherjee Road, a stone’s throw from the residence of West Bengal Chief Minister Mamata Banerjee, signalling the high-stakes battle unfolding in her political backyard.
Banerjee is set to face her arch-rival Suvendu Adhikari, the Leader of Opposition, who has chosen to contest from Bhabanipur, the Chief Minister’s home turf, setting the stage for one of the most closely watched contests in next month’s Assembly elections. The constituency has turned into a theatre of intense campaigning, with both the ruling All India Trinamool Congress and the opposition Bharatiya Janata Party stepping up door-to-door outreach and street-level mobilisation.
At a Trinamool Congress party office, septuagenarian local leader Asish Ghosh dismissed the BJP challenge, predicting a decisive victory for Banerjee. “Didi knows her constituency like the back of her hand. She has always been available for the people here. People are getting support from her government through welfare schemes like Lakshmir Bhandar, Kanyashree and Yuva Sathi,” Ghosh said.
He also alleged voter disenchantment over the ongoing Special Intensive Revision (SIR) of electoral rolls. “People are very angry with the Election Commission and the BJP due to the harassment voters are facing. In Bhabanipur, many genuine voters’ names got deleted. The Narendra Modi government has also failed to deal with the LPG shortage issue,” he added.
Special Intensive Revision
During the revision exercise, over 47,000 names were deleted from electoral rolls in the constituency, while about 14,000 electors remained under adjudication pending judicial verification as on February 28. Adhikari had months earlier declared his intent to contest from Bhabanipur and repeat his earlier electoral success against Banerjee.
In the 2021 Assembly elections, Adhikari defeated Banerjee in Nandigram in Purba Medinipur district by a slender margin of 1,956 votes. However, Banerjee led the Trinamool Congress to a sweeping victory statewide and later re-entered the Assembly through a by-election in Bhabanipur, winning by a margin of 58,000 votes, reaffirming the seat as one of her strongest bastions.
The BJP, however, draws confidence from the 2024 Lok Sabha elections, when the Trinamool Congress secured a relatively modest lead of 8,291 votes from the Bhabanipur Assembly segment amid allegations of corruption and signs of anti-incumbency. “We will win this time from Bhabanipur seat, not an iota of doubt,” said local BJP leader Rabindra Chowdhury.
“When we are meeting voters, we are witnessing anger towards Mamata Banerjee and her government over corruption, from the School Service Commission recruitment scam to money laundering linked to the coal scam. Several Trinamool leaders are involved in big scams,” he said.
He also referred to the RG Kar Hospital rape-murder case, saying concerns over women’s safety remain a key campaign issue.
“People have not forgotten the RG Kar hospital rape-murder case. Women are not safe in Kolkata and Bengal,” Chowdhury said, adding that the removal of alleged “ghost voters” during the SIR exercise would weaken Trinamool’s electoral machinery.
Bhabanipur, carved largely from wards of the Kolkata Municipal Corporation, reflects the city’s social diversity, with a sizeable Hindi-speaking trading and business community alongside Muslim-majority pockets.
The constituency is scheduled to vote on April 29 in the second phase of the Assembly elections, in what is widely expected to be one of the fiercest political contests in the State.
