The party and its allies are however looking at a defeat in the mining state of Jharkhand.

The ruling Bharatiya Janata Party (BJP) and its allies are set to retain power in India’s richest state, in a major boost to prime minister Narendra Modi and his Hindu nationalist party. The Mahayuti alliance,

By Bharath Rajeswaran (Reuters) -Indian shares extended their rally on Monday after Prime Minister Modi's party and its allies scored a decisive win in the country's richest state of Maharashtra. The NSE Nifty 50 rose 1.

Stock benchmarks in India surged on Monday as Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance secured a thumping victory in the nation’s wealthiest state of Maharashtra.

Indian indices extended gains on Monday after Prime Minister Modi's party and his allies secured victory in the state of Maharashtra. The BJP's win provided some relief to the market, as the election outcome ended political instability in the Indian state.