For scores of smallcap investors on Dalal Street, the Bengal theme is the hottest trade in town following the BJP’s landslide victory in the West Bengal assembly elections. Bengal-focused stocks have seen a sharp two-day rally, with IFB Agro Industries surging 27% and Dhunseri Tea jumping 22% as investors bet on a radical shift in the state’s industrial fortunes. But analysts warn that real transformation will take years, and market focus is already pivoting to West Asia tensions and quarterly earnings.

Seven stocks with Bengal exposure posted double-digit gains in two days following the election verdict. Dhunseri Tea and IFB Agro Industries led with 22% and 27% gains respectively, while Senco Gold surged 13%, Balgopal Commercial 12%, Emami Realty 10%, Mcleod Russel 9%, and Bazaar Style Retail 6%.

“The market mood is positive as one more state like Bengal, which has got significant growth potential, would now be ruled by the BJP,” Sunny Agrawal, Head of Fundamental Research at SBI Securities, told ET Markets. “But fundamentally, things will improve only gradually. The true impact will be felt only in the long term.”

Also Read | Election impact on stock market explained: What likely BJP win in West Bengal means for investors

Nomura struck a cautiously optimistic note, highlighting decades of underperformance. “West Bengal has struggled with industrialisation throughout its modern history, despite its easy access to ports, raw material and markets, primarily impacted by governance concerns of the Left and TMC,” the brokerage said. “The BJP’s victory in WB could lead to expectations of improved governance, ease of doing business, enhanced infrastructure spending with central government assistance and better centre-state coordination on various schemes. A turnaround in WB’s economic prospects with higher levels of private investment and higher incomes is a potential medium-term tailwind.”

Ambareesh Baliga, an independent market analyst, sees a clear sectoral playbook emerging. “It will lead to an industry comeback, more focused growth in Bengal. After several decades, Bengal will get the same government as the centre,” he said. “Sectors like real estate will benefit. It won’t be untouchable for national players anymore.”
He flagged that while listed real estate players with exposure to Bengal are limited, some carry land banks in the state. Companies that have started or have significant operations in Bengal stand to gain from the changing political climate. Infrastructure plays in roads and construction are also on his watchlist.
JM Financial echoed the development narrative while injecting a note of caution. “A decisive mandate in West Bengal in favour of a pro-growth party would ideally drive capex activity in the state and improve ease of doing business, aligning with the Prime Minister’s ‘Poriborton’ push,” the brokerage said. “We expect incremental focus on manufacturing, which would boost employment opportunities and gradually improve the fiscal deficit. However, despite visibility of incremental capex demand in West Bengal, there is a risk of curtailment in central government capex due to the likely fiscal impact of the West Asia crisis.”
Motilal Oswal underscored the political significance by saying that the election verdict will be viewed positively by the market, not only for the message of a progressive change but more from the lens of policy continuity, as the hands of the ruling NDA have become stronger, and any faint memories and concerns of the 2024 Lok Sabha setback have been convincingly wiped.

“The results have longer-term implications on the economic growth of involved states, especially the momentous transition for West Bengal, which will play out over the years. Once the results are digested and their positive undercurrent well noted, markets will quickly shift focus to the more immediate developments in the West Asia war and the 4QFY26 earnings season.”

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

West Bengal’s historic shift to BJP rule, the kind of political earthquake that would typically fuel a multi-day Dalal Street rally, lasted barely a few hours before global realities crushed the party. The Sensex crashed over 500 points, and the Nifty shed 0.6% on Tuesday as surging crude oil, a rupee in freefall, and the spectre of sustained foreign selling overshadowed what should have been a celebration of policy continuity and investment potential.

After rallying nearly 1,000 points Monday morning as election results confirmed the BJP’s Bengal victory, the Sensex pared gains to close just 356 points higher, a warning shot that sentiment alone wouldn’t carry the market. By Tuesday, the disconnect was complete.

3 factors are drowning out the Bengal bulls:

1) Crude oil reality

The resumption of hostilities in the Strait of Hormuz and Brent crude spiking back to around $113 have become the dominant market narrative, overwhelming any domestic political positives.”The sentimental boost provided by the BJP’s electoral victory in W Bengal will not last,” Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said bluntly. “The market trend will be guided by the developments in West Asia, particularly in the Strait of Hormuz. The resumption of hostilities in the Hormuz region and Brent crude again spiking to around $113 are headwinds for the market.”

Investors ignored the gains for the BJP in states such as West Bengal and a third term in Assam on the belief that higher import bills could weaken macro-economic fundamentals, reduce purchasing power, and earnings.
Nomura flagged an uncomfortable policy choice now looming. “The strengthening of BJP’s political foothold could reduce India’s political risk premium at the margin, especially at a time when the war in Iran is leading to unpopular price hikes and supply-side shortages,” the brokerage said.
“However, we expect markets will be wary of the prospects of hikes in petrol and diesel prices now that the state elections are over. While the government has pushed back against this in the past, having already cut fuel taxes, a senior government official has been reported to suggest that discussions on fuel price hikes are ongoing to reduce under-recoveries of oil marketing companies.”
JM Financial warned that despite the visibility of incremental capex demand in West Bengal, there is a risk of curtailment in central government capex due to likely fiscal impact of the West Asia crisis.

Also Read | The Bengal boom: 7 stocks that surged up to 22% after BJP win and should you still buy?

2) Rupee crisis

The Indian rupee slid to a record low on Tuesday after U.S.-Iranian strikes in the Gulf rattled markets, dimming hopes for a resolution and deepening concerns over risks confronting the oil-importing economy.

The currency weakened to 95.40 per dollar, down 0.3% on the day, eclipsing its previous all-time low of 95.33 hit last Thursday. The rupee has declined 4.5% since the Iran war erupted on February 28, in line with other currencies of oil importers in Asia.

UBS has revised its year-end forecast for the rupee to 96 per dollar, weaker than its earlier forecast of 94, while analysts at ANZ expect it to weaken to 98 by March 2027.

“The underlying issue for INR remains the balance of payments. Hence, measures to increase capital flows need to be the key policy priority,” analysts at UBS said in a note.

The US 10-year bond yield rising to 4.44% and the rupee sliding to fresh record low levels are unfavourable from a foreign inflows perspective.

Also Read | Election impact on stock market explained: What likely BJP win in West Bengal means for investors

3) FII threat

While FIIs bought over Rs 2,800 crore worth of shares in Monday’s trading session, analysts say that could be a one-off. In recent weeks, HSBC and JP Morgan have downgraded Indian stocks.

“While Monday’s election outcome provided a boost to market sentiment, investor focus remained on geopolitical developments, with the West Asia conflict still unresolved and crude prices elevated,” said Rajesh Palviya, head of technical and derivatives research at Axis Securities. “Although the ruling party’s victory supports sentiment, a sustained market uptrend will likely depend on positive geopolitical cues.”

Emkay highlighted the longer-term fiscal concerns that could temper any Bengal optimism. “We believe BJP-led governance in states, particularly WB, could improve Centre-state alignment and accelerate administrative approvals for central projects, benefiting regional industrial growth in the medium term,” the brokerage said. “However, the immediate challenge lies in maintaining fiscal discipline against the backdrop of populist-driven spending trends, which have proven to be a winning electoral formula, but threaten the long-term fiscal health of states and their productive spending.”

With most large-cap earnings now largely behind us, markets are searching for fresh triggers to determine the next directional move. Vijayakumar summed up the near-term outlook: “In the near-term, the market will respond to Q4 results and management commentary.”

For now, West Bengal’s political transformation remains a medium-term story that the market simply can’t afford to price in while oil burns above $113 and the rupee sets fresh lows by the day.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Britain’s pub trade is calling time at a rate of nearly two locals a day, with industry leaders pinning the blame squarely on Chancellor Rachel Reeves’s autumn Budget.

Fresh figures from the British Beer and Pub Association (BBPA) show 161 pubs shut their doors for good in the first quarter of 2026 alone — a 26 per cent jump on the same period last year and the equivalent of one publican turning out the lights every 13 hours.

The closures have already cost more than 2,400 jobs since January, with around half of those losses falling on workers under the age of 25. The hospitality sector as a whole has now haemorrhaged more than 100,000 roles since Labour took office in October 2024.

Writing in The Telegraph, BBPA chief executive Emma McClarkin warned that Britain’s locals were buckling under “a heavy and uneven burden”. She pointed out that £1 in every £3 spent over the bar goes straight to the Treasury, before pubs even consider rising energy bills, wage pressures and tightening regulation.

“Otherwise-viable businesses have been pushed to the brink,” Ms McClarkin wrote, calling for cuts to beer duty and VAT alongside structural reform of business rates.

The figures land at an awkward moment for ministers, who have spent recent weeks insisting they are “backing Britain’s pubs”. A 15 per cent reduction in business rates bills, secured for the sector from April, was followed by a two-year real-terms freeze. The Treasury has also extended World Cup opening hours and unveiled a £10m hospitality support fund.

Operators, however, say the relief is being swallowed whole by other Budget measures. The increase in employers’ National Insurance contributions, sharp rises to the National Living Wage and revisions to the business rates regime have, the BBPA estimates, added £322m to the costs faced by pubs and brewers.

Kate Nicholls, chair of UKHospitality, said the trade was now carrying “the highest tax burden in the economy”. She warned: “Local people, local communities and our economy suffer enormously when a pub closes. The Government needs to cut hospitality’s costs and give it the support it needs to do what it does best, drive growth, create jobs and regenerate our high streets.”

The Conservatives have wasted little time exploiting the closures politically. Shadow chancellor Sir Mel Stride accused Labour of pursuing “ruinous policies” and said a future Tory government would cut business rates “for thousands of pubs and shops on our high streets”.

A Government spokesman pushed back, citing the rates relief and support fund, and Ms Reeves has promised a review into how pubs are valued for business rates, a long-standing grievance among publicans, who argue the current turnover-based methodology unfairly penalises them compared with their high-street neighbours.

For now, the data tells a starker story than the political point-scoring. With margins already razor-thin and consumer confidence wavering, even modest additional costs can be enough to tip a marginal pub into the red. Unless the Government moves on duty, VAT or rates ahead of the autumn statement, industry insiders fear the rate of closures will only accelerate as the colder months arrive.

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Shares of GameStop dropped more than 10% to $23.84 on Monday after doubts surfaced over how the company plans to fund its unexpected $55.5 billion bid for eBay. In an interview with CNBC, CEO Ryan Cohen avoided direct answers on the financing of the proposed deal, saying he did not understand the line of questioning.

According to a letter posted on GameStop’s website, the offer is structured as a half-cash, half-stock deal at $125 per share. The company plans to use around $9.4 billion in cash on hand and has indicated potential debt financing of $20 billion from TD Securities. Including GameStop’s market capitalisation of roughly $11 billion, the total comes to about $40 billion, leaving a gap of $16 billion compared with the bid value.

“Where is the rest of the money coming from?” asked CNBC anchor Becky Quick, following similar questions from co-anchor Andrew Ross Sorkin on the network’s show Squawk Box. “I don’t understand your question,” Cohen said. “We’re offering half cash, half stock, and we have the ability to issue stock to get the deal done. But the full details of the offer are on our website.” GameStop did not respond to further requests for comment.

GameStop’s market valuation stood at about $12 billion as of Friday, significantly lower than eBay’s $46 billion. The retailer gained widespread attention during the 2021 meme stock rally, which elevated Ryan Cohen as a central figure and earned him the label “meme king” among online investors.

Cohen also said he has not held any discussions with eBay regarding the proposal. eBay confirmed this in a statement on Monday and said it would not comment further until its board has reviewed the offer.

GameStop has built an estimated 5% stake in eBay, largely through derivatives along with some holdings in common stock, according to CEO Ryan Cohen. The remaining portion of the proposed deal is expected to be funded through its cash reserves of about $9.4 billion, along with the option to issue additional shares.
Cohen said this makes GameStop one of eBay’s largest shareholders, adding that the company’s board has a fiduciary responsibility to assess the proposal. He described eBay as a business that is underperforming relative to its potential and said GameStop’s own transformation offers a model for improvement.The Wall Street Journal was the first to report the unsolicited bid. Cohen told the publication he is willing to take the offer directly to shareholders through a proxy fight if required. If the transaction goes through, he is expected to take on the role of Chief Executive Officer of the combined entity, according to GameStop’s statement.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

CUPERTINO, Calif. — Apple’s iPhone 18 Pro Max is shaping up as one of the most ambitious upgrades in years, with leaks pointing to a powerful 2nm A20 Pro chip, variable aperture camera system, significantly smaller Dynamic Island and larger battery as the flagship prepares for a September 2026 launch alongside the company’s first foldable iPhone.

While still months away from official announcement, supply chain reports, dummy unit leaks and analyst predictions paint a clear picture of meaningful evolution rather than revolution for the 6.9-inch Pro Max. The device will share the spotlight with the iPhone 18 Pro and a new foldable model, expected to be called iPhone Ultra or similar, marking one of Apple’s biggest product line shake-ups in recent memory.

Design and Display Changes

Dummy units and prototype leaks reveal a design largely familiar to iPhone 17 Pro Max owners but with noticeable refinements. The Dynamic Island is reportedly shrinking by 25% or more, measuring around 15mm wide compared to previous generations. Some reports suggest under-display Face ID technology could move key sensors beneath the screen, leaving only a small left-aligned punch-hole for the front camera.

The rear camera bump appears thicker to accommodate larger sensors and rumored new optics. Individual lenses have grown slightly in diameter, reducing spacing between them. Overall device thickness may increase marginally to support bigger batteries while maintaining premium titanium construction.

Display technology is expected to advance with improved LTPO panels offering 1-120Hz variable refresh rates and potentially higher peak brightness. The 6.9-inch Super Retina XDR OLED will continue to lead the lineup in size and quality.

Color Options and Materials

Black may be absent for a second consecutive year. Leaks point to a deep red or Dark Cherry finish as a potential hero color, along with Light Blue, Dark Gray and classic Silver or Natural Titanium variants. Apple is reportedly testing vibrant new anodized or PVD-coated options to refresh the aesthetic lineup.

Performance and Chipset

The star of the show is expected to be Apple’s A20 Pro chip, built on TSMC’s advanced 2nm process. This represents a major leap in efficiency and power, with projections of up to 15% faster CPU performance and 30% better energy efficiency compared to the A19 series. Wafer-level multi-chip module technology will integrate RAM directly with the processor, boosting Apple Intelligence capabilities and allowing more internal space for other components.

Rumors suggest 12GB of RAM across Pro models, with storage options reaching up to 2TB. A custom C2 modem should improve satellite connectivity, 5G speeds and power management.

Camera Upgrades

Photography enthusiasts have the most to look forward to. The iPhone 18 Pro Max is widely expected to introduce a variable aperture system on the main 48MP camera, allowing adjustable f-stops for better depth control, low-light performance and creative effects. All three rear lenses — main, ultrawide and periscope telephoto — could see resolution and quality bumps, with potential for 8K video recording.

The front camera may upgrade to 18MP or higher, paired with the evolving Face ID system. These changes position the Pro Max as a serious tool for content creators and professional photographers.

Battery and Charging

Battery life remains a top priority. Leaks indicate capacity could reach 5,100 to 5,200mAh or higher in the Pro Max, enabled by the more efficient chip and slight design adjustments. Faster wired charging up to 40W and improved wireless options are also anticipated, addressing long-standing user feedback.

AI and Software Features

Deeper integration with Apple Intelligence is expected, potentially including advanced on-device processing for new features like nutrition scanning, enhanced photo editing and smarter system optimizations. The hardware upgrades will unlock capabilities that may not be fully available on older models.

Pricing and Availability

Pricing is expected to start around $1,199 for the iPhone 18 Pro Max, maintaining or slightly increasing from current levels due to advanced components. Pre-orders would likely begin shortly after the September event, with availability later that month.

The standard iPhone 18 and more affordable variants are reportedly delayed to spring 2027, making the fall 2026 lineup heavily Pro- and foldable-focused.

Broader Context

These developments come as Apple navigates a competitive landscape with foldables gaining traction. The iPhone 18 Pro Max serves as a bridge between traditional slab phones and the new foldable era, delivering incremental but meaningful upgrades while the company bets big on its first foldable device.

Analysts caution that many details could still shift before launch. Supply chain reports and dummy units provide strong signals, but final specifications always depend on Apple’s rigorous testing and last-minute decisions.

For now, excitement continues to build around what could be one of the most capable iPhones yet. With a cutting-edge processor, refined design and camera innovations, the iPhone 18 Pro Max promises to set new standards when it arrives this fall. Tech enthusiasts and prospective buyers will be watching closely as more concrete information emerges in the coming months.

NEW YORK — The New York Times Wordle answer for Tuesday, May 5, 2026, is LATCH, giving players a moderately challenging start to the week with a five-letter word that doubles as both a common household object and a verb meaning to fasten or attach firmly.

Wordle #1781 tested solvers with a word containing common consonants and a single vowel, starting with L and ending in a soft CH sound. The solution refers to a fastening device on doors, gates or windows — or the action of securing something in place. It also carries figurative meanings, such as latching onto an idea or opportunity.

Players who opened with strong starters like RAISE, SLATE or CRANE likely narrowed possibilities quickly, though the combination of L, A, T, C and H proved elusive for many. According to early community reports on platforms like Reddit, average scores hovered around 4.2 guesses, with a notable spike in six-guess finishes compared to easier recent puzzles.

How Players Solved It

Many successful solvers began with vowel-heavy openers and pivoted after identifying the A early. Common paths included testing words with T and CH clusters. One popular sequence shared online: STEAL → TALON → FAULT → LATCH, securing the win in four guesses.

Hard-mode players faced extra difficulty, as rules require using confirmed letters in subsequent guesses. The absence of repeated letters and the less common “TCH” ending caught some off guard after early vowel or R-heavy attempts.

The New York Times noted the word’s dual noun-verb usage in its official review, highlighting its everyday relevance. Webster’s defines it as a bar or catch that falls into a notch, or the act of fastening with such a device.

Wordle’s Enduring Popularity

Since its acquisition by The New York Times in 2022, Wordle has maintained massive daily engagement, with millions attempting the single daily puzzle worldwide. The game’s simple green-yellow-gray feedback system, limited to six tries, creates a perfect balance of accessibility and challenge that keeps players returning.

May 2026 has delivered a mix of straightforward and trickier solutions. Monday’s answer, RISER, focused on a common architectural term, while Tuesday’s LATCH shifted toward practical objects. The puzzle’s difficulty curve keeps the community engaged, with dedicated trackers and analysis sites breaking down statistics like letter frequency and solve distributions.

Social media platforms buzz with reactions each morning. On X and Reddit’s r/wordle community, players share grids, celebrate streaks and commiserate over tough days. Hashtags like #Wordle1781 and #WordleToday trended as solvers discussed strategies and near-misses involving similar words like CATCH, MATCH or BATCH.

Tips for Future Puzzles

Wordle enthusiasts recommend starting with words containing multiple vowels and common consonants — ADIEU, SLATE or CRANE remain popular. Tracking eliminated letters helps narrow options efficiently. For harder days, considering double meanings or less obvious usages can unlock solutions faster.

The game also offers optional variants like Wordle Unlimited for practice and connections-style spin-offs, but the official daily puzzle retains its special status. Families and offices often compete for lowest average scores, turning the simple word game into a daily ritual.

Cultural Impact and Community

Wordle’s influence extends beyond casual play. It has inspired books, merchandise, classroom vocabulary exercises and even competitive leagues. Its accessibility appeals across age groups, with many older players appreciating the mental exercise and younger users enjoying the social sharing aspect.

The NYT continues subtle updates while preserving the core experience that made it a phenomenon. No ads interrupt the clean interface, and the single daily puzzle prevents bingeing while building anticipation. This restraint has contributed to its longevity in an era of attention-grabbing apps.

For those who missed LATCH, tomorrow brings a fresh challenge. Wordle resets at midnight in each time zone, offering another opportunity to build or maintain streaks. Serious players guard multi-month streaks carefully, with some reaching hundreds of consecutive solves.

Broader Word Game Trends

Wordle’s success has spawned numerous imitators and related games, from geography-focused Worldle to music Quordle variants. The NYT portfolio now includes Connections, Mini Crosswords and Strands, creating a daily puzzle ecosystem that keeps word lovers engaged.

Educators note benefits including improved vocabulary, pattern recognition and deductive reasoning. The game’s gentle difficulty curve makes it suitable for all skill levels while rewarding strategic thinking.

As May 5, 2026, draws to a close, solvers reflect on their performance with LATCH. Whether celebrated in four guesses or salvaged in six, the word provided a satisfying mental workout. The global Wordle community will reconvene tomorrow for puzzle #1782, ready for whatever five letters the New York Times has prepared next.

For players seeking yesterday’s solution, May 4’s Wordle was RISER. Archives and analysis sites offer complete historical lists for those tracking patterns or curious about past answers.

The simplicity and universality of Wordle ensure its place in daily routines. On a day when LATCH clicked for thousands, it reminded players why this unassuming game continues captivating millions years after its viral explosion. One puzzle at a time, one green square at a time, the streak lives on.

The fast-growing brand is looking to establish 100 branches by 2030

A fast-growing sushi chain is opening five new UK sites as part of an ambitious expansion strategy. Iro Sushi has agreed deals to open outlets in Bristol, Basingstoke, Ipswich, Ilford and Maidenhead.

The brand, which was founded in 2014 by trained sushi chef Chhong Sherpa, serves fresh, made-to-order, restaurant-quality sushi and Japanese-inspired dishes.

The new openings will take chain’s estate to 38 locations, strengthening its presence in existing regions including the Thames Valley and Home Counties, while also marking entry into new towns and cities such as Bristol and Ipswich.

It is understood the design of the new stores will be inspired by ‘Izakayas’ – a traditional Japanese drinking establishment, but will also use technology to drive operational performance.

Mr Sherpa said: “This is another significant milestone for Iro Sushi. Over the last six months, we’ve worked hard to refine our proposition with the launch of our new store format and continue evolving our menu.

“Now, with the foundations firmly in place, we’re ready to turbocharge our growth with the opening of new sites across the UK.”

Mr Sherpa said the openings would “create new opportunities” for the company to introduce the brand to more consumers. “[It will also] take Iro Sushi a step closer to becoming the brand of choice for lovers of sushi and Japanese cuisine across the country,” he added.

The new signings follow continued momentum across the business for Iro Sushi. Last year, the group delivered system sales of £18.5m, up 29 per cent year-on-year, and 19 per cent on a like-for-like basis.

According to Iro Sushi, the company has a “growing pipeline of committed sites and franchise partners” and is on track to deliver on its ambition to reach 100 locations by 2030.