Narendra Modi-led BJP wins re-election in a landslide victory. Sensex and NIFTY indices fall around 1% each after charting historic highs on back of election results. India's 10-year bond prices hit a 13-month high. India revealed to be the nation with the maximum app downloads in the world this year, Tiktok App emerges as the most downloaded. Uber Eats to offer an unlimited delivery subscription. Capital Float’s fund raising process stuck on back of NBFC crisis. TransferWise emerges as Europe’s most valuable financial tech start-up. Reliance Capital to sell entire stake in AMC JV to Nippon Life. Consortium of banks led by SBI might hold a 20% stake in Jet to facilitate the Etihad-Hinduja deal.
Moving on to the top Business news of the day.
Andhra Pradesh chooses Jaganmohan Reddy over Chandrababu Naidu. What does BJP's resounding victory in Bengal say?
Andhra Pradesh: In a sweeping mandate, Andhra Pradesh has chosen YSR’s Jaganmohan Reddy for both state and the Centre over Telugu Desam Party’s Chandrababu Naidu.
YSR Congress Party is on course to win 149 of the 175 Assembly seats, pushing TDP to distant second on just 25 seats.
The party is also leading on 24 out of 25 Lok Sabha seats in the state while TDP is ahead on one constituency.
West Bengal: In yet another instance of a resounding win, the Bharatiya Janata Party (BJP) is leading in 18 seats, in a state where it won only 2 last time. TMC is leading in 25 seats, Congress in 1.
Live updates on the election results here.