From suspension to defection

Eighteen days after the results, Ambernath politics takes a dramatic turn as Congress corporators flood into BJP Ambernath : Amid growing buzz around municipal elections in Maharashtra, the Congress party has suffered a major political blow in Ambernath. As many as 11 Congress corporators have quit the party and formally joined the Bharatiya Janata Party (BJP) within 24 hours of being suspended, dramatically altering the power balance in the Ambernath Municipal Council. The development has...

min read

Eighteen days after the results, Ambernath politics takes a dramatic turn as Congress corporators flood into BJP Ambernath : Amid growing buzz around municipal elections in Maharashtra, the Congress party has suffered a major political blow in Ambernath. As many as 11 Congress corporators have quit the party and formally joined the Bharatiya Janata Party (BJP) within 24 hours of being suspended, dramatically altering the power balance in the Ambernath Municipal Council. The development has not only weakened Congress but has also dealt a significant setback to the Eknath Shinde-led Shiv Sena faction. The crisis began after Congress suspended 12 corporators for aligning with the BJP during the formation of power in the municipal council. However, since the corporators were suspended and not disqualified, their corporator status remained intact, legally freeing them to join another party. Taking advantage of this, 11 suspended corporators crossed over to the BJP, leaving Congress in a political bind described by party insiders as a case of “losing both oil and ghee.” The situation within the Congress organisation in Ambernath has further deteriorated. Party sources say there is no one left to even occupy the Congress office, and discussions are underway about sending a lock from Mumbai to secure it. Ironically, the party office itself is reportedly under the control of former Taluka Congress President Pradeep Patil, who was earlier suspended for campaigning for Shiv Sena (Shinde faction) candidate Shrikant Shinde during the Lok Sabha elections. Patil was suspended at the time by then state Congress president Nana Patole. Power Struggle In the Ambernath Municipal Council, the Shinde-led Shiv Sena has 27 corporators, BJP has 14, Congress 12, and the Nationalist Congress Party 4. Despite being the single largest party, Shiv Sena (Shinde faction) fell short of a majority. BJP capitalised on this situation by aligning with Congress corporators and the NCP to reach the majority mark, a move that triggered widespread discussion across the state and country due to the unusual BJP–Congress alignment. Congress’s disciplinary action against its corporators ultimately worked in BJP’s favour and against the Shinde Sena. Following the defection of the 11 corporators, BJP’s strength in the municipal council has increased significantly, while the Shinde Sena has been pushed further away from power despite having the highest number of elected members. This political churn is being viewed as a warning signal for Shiv Sena (Shinde faction) leadership. Ambernath is represented by MLA Dr. Balaji Kinikar, while Shrikant Shinde, son of Deputy Chief Minister Eknath Shinde, is the local Member of Parliament. With party control firmly in their hands, the BJP’s successful induction of Congress corporators facilitated by state BJP president Ravindra Chavan is being seen as a strategic challenge to the Shinde camp. Intensifying Rivalry BJP’s aggressive organisational expansion in Badlapur, Ambernath, and Kalyan-Dombivli has intensified tensions between BJP and the Shinde Sena. The rivalry between MP Shrikant Shinde and BJP state president Ravindra Chavan has now become increasingly open, peaking in December with both sides engaging in aggressive political poaching of former corporators and office-bearers. List of Congress corporators who joined BJP 1. Pradeep Nana Patil 2. Darshana Umesh Patil 3. Archana Charan Patil 4. Harshada Pankaj Patil 5. Tejaswini Milind Patil 6. Vipul Pradeep Patil 7. Manish Mhatre 8. Dhanlakshmi Jayashankar 9. Sanjavani Rahul Devde 10. Dinesh Gaikwad 11. Kiran Badrinath Rathod

India bears the brunt: Nifty crashes 1,100, Sensex nosedives 3,900 points after US trade shock

Correspondent
Apr 7, 2025
2 min read

India woke up to a financial jolt this morning as its equity markets suffered their steepest fall in nearly a year, shaken by the ripple effects of US President Donald Trump’s aggressive new tariff regime. The Sensex plunged over 3,900 points at opening bell, while the Nifty tumbled more than 1,100 points, dragging Indian stocks to a 10-month low.

This sharp decline follows a global equity rout triggered by Trump's protectionist measures, which have sent panic waves across Asia and raised the spectre of a global recession. Investors dumped shares in a massive sell-off, with Indian benchmarks reacting sharply in early trade. The Sensex dropped to 71,425.01 — down 3,939.68 points — while Nifty slipped to 21,743.65, marking a 3.5% slide from the last session.

Adding to the pressure, the Indian rupee depreciated 30 paise to open at 85.74 against the US dollar.

India Among the Hardest Hit

Trump’s latest tariff hike — framed as a push to restore fairness to global trade — has imposed country-specific duties that go as high as 50%. India has been slapped with a 26% tariff, while a 10% baseline duty applies to all nations. This has set alarm bells ringing among Indian exporters and traders already struggling with global demand volatility.

President Trump, unfazed by the financial carnage, likened the move to a bitter but necessary cure. “Sometimes you need the medicine to fix something,” he told reporters earlier today.

Analysts Urge Economic Safeguards

Market experts believe that India's current market turmoil isn't rooted in domestic issues but is rather a consequence of being tightly woven into global investment flows.

“India will face the heat, not due to domestic reasons, but as an interlinked chain in the global portfolio flows,” said Ajay Bagga, a noted market expert. “India will need a fiscal, monetary, and reform package to protect the domestic economy from this global economic winter that is threatening to settle in.”

Sunil Gurjar, SEBI-registered research analyst, warned that the Nifty50 index has breached its first support level and is approaching the next. "A further breakdown could worsen the trend and accelerate the fall," he cautioned.

Asian Markets Bleed

The tremors from Trump's announcement were first felt in Asia, with key markets suffering steep losses. China's stock markets fell over 4% amid retaliatory tariffs of 34% against the US. Hong Kong's Hang Seng nosedived more than 10%, while Japan’s Nikkei index fell 6.5% after plunging 8% earlier in the day. Taiwan saw a near-10% collapse, and Singapore dropped over 8%.

Wall Street Braces for Impact

US markets, though yet to open, appear set for a rough start. Futures contracts on the New York Stock Exchange are sharply down, suggesting heavy losses once trading resumes.

Market sentiment globally has turned bearish, with fears of a looming recession taking hold. Stephen Innes of SPI Asset Management described the scene as “free-fall mode,” noting, “Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.”