Baazar Style, Senco Gold, other stocks jump up to 9% on BJP's early lead in West Bengal elections. Here's why

Election results impact on stock market: 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 is likely to form its maiden government in the state.

The Bharatiya Janata Party (BJP) is leading in 186 seats while the ruling party Trinamool Congress (TMC) is leading in 88 seats, as seen at 1.45 pm. Congress and CPI(M) are leading in only 2 and one seat, respectively. It is important to note that these are only early trends and the final outcome will be available later.

What BJP has promised

Earlier in April this year, the BJP unveiled its election manifesto, promising Rs 3,000 in monthly financial assistance for women heads of families, a Rs 3,000 monthly allowance for unemployed youth, Rs 15,000 for youths preparing for competitive exams, among others.


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.

Which stocks can benefit

Baazar Style Retail is a Kolkata-headquartered retail chain. As of December 31, 2025, the company’s total store count stood at 252. State-wise, the company had the largest number of stores in West Bengal at 94, followed by Assam (38) and Odisha (34). The shares of the company jumped more than 9% to hit a 52-week high of Rs 424.15 apiece on the NSE on Monday.

Senco Gold is a gold and diamond jewellery brand. The Kolkata-headquartered company saw its share price rally nearly 11% to Rs 347.35 apiece on Monday. Around 105 out of its total store count of 196 were located in West Bengal, as of December 31, 2025.

West Bengal-headquartered tea makers Rossell India, McLeod Russel India, Dhunseri Tea and others saw their share prices rise up to 5%. Jute maker Gloster also saw its share price rise up to 2%.

Shares of 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, meanwhile, jumped 7%. Notably, this is not an exhaustive list, and there may be more stocks impacted by the early trends.

While markets are optimistic, analysts advise caution. “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 be only a very short-term sentimental impact. The real market trend will be guided by crude oil prices, which, in turn, will be decided by developments in West Asia,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.

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