Splits in key political parties Shiv Sena and NCP have made the battle for the 48 Lok Sabha seats in Maharashtra more interesting, besides the focus on traditional issues like unemployment and farmer suicides. Lok Sabha polls in Maharashtra will be held in five phases on April 19, April 26, May 7, May 13 and May 20. Counting of votes will be held on June 4.

The BJP-Shiv Sena won 41 of the 48 seats in the 2019 polls, but the Sena has split since and a vast majority of the Bal Thackeray-founded party is now allied with the BJP. The Nationalist Congress Party also split as well with Ajit Pawar joining the ruling alliance in the state, led by Eknath Shinde. In the 2019 Lok Sabha polls, the BJP emerged the top party with 23 seats, followed by the undivided Sena with 18. The undivided NCP had emerged victorious on four seats, the Congress one, while the AIMIM and an Independent accounted for the remaining two.

A total of 9.2 crore persons, including more than 50,000 centenarians, are eligible to exercise their franchise in the ensuing Lok Sabha elections in Maharashtra, an increase of 34 lakh from 2019. Here is how the political landscape in various regions of Maharashtra looks like ahead of the ensuing Lok Sabha elections.

Konkan: The coastal region of the state includes Mumbai, the country’s commercial capital with six highly urbanised Lok Sabha seats, where issues include woes related to transportation, housing and jobs. The BJP-Sena had won 12 of the 13 seats in the region in 2019. While the Shiv Sena (UBT) could attract some sympathy post the split, other issues all parties will have to contend with are plans to construct a massive refinery and nuclear power plant in Ratnagiri area and a mega port in Vadhavan near Dahanu in Palghar.

Western Maharashtra: One of the most developed regions in the state, it is home to industrial cities with information technology hubs as well as sugar mills, ethanol plants and agri-rich rurban (land on the edge of a town or city, on which new housing and businesses are being built) pockets. The region receives ample rainfall but unequal distribution of water among various areas has been a traditional bone of contention. The split in the NCP, a strong contender in the region, and the Shiv Sena means the upcoming polls will ensure focus on candidates as much as party ideology due to fresh realignments. In the 209 polls, the BJP won five seats, while the Shiv Sena and the Sharad Pawar-founded Nationalist Congress Party won three each from this region.

North Maharashtra: This region is among the country’s top sources of grapes and onions, making it a hotbed for discontent in connection to changes in export-import policies for farm produce. Inadequate or unseasonal rainfall is another bugbear that can change the discourse. The region has a significant population of tribals and backward segments. In the 2019 polls, the BJP-Shiv Sena won all six seats in the region.
Marathwada: The region is infamous for lack of adequate rainfall, which has left it under-developed when compared to other parts of Maharashtra, leading to unemployment woes. Unseasonal rains and crop loss are annual phenomena, resulting in sharp surges of discontent among farmers. Apart from the industrial hub of Chhatrapati Sambhajinagar (formerly Aurangabad), the rest of the region is rural and lacks basic amenities. Speedy highway construction has boosted transportation. In 2019, the BJP won four Lok Sabha seats, followed by three for its ally Shiv Sena.

The Aurangabad seat was won by the Asaduddin Owaisi-led AIMIM. Maratha quota activist Manoj Jarange hails from Marathwada and has a following in the region as was seen during many of his protests in the last few months. Vidarbha: Blessed with abundant natural resources and forests, the region in the eastern part of the state, however, has been in limelight for farmer suicides.

Left Wing Extremism is also a problem in some parts, mainly in Gadchiroli. There are also problems of human-wildlife conflicts in districts like Chandrapur, home to a sizable number of tigers. Soybean and cotton produce not fetching good returns could lead to agricultural distress in the region.

Moreover, several MP’s from the area were those who retained their seats, which means they may face anti-incumbency in the 2024 Lok Sabha polls. Of the 11 Lok Sabha seats in Vidarbha, the BJP won five, Shiv Sena three, while Congress and an Independent emerged victorious on one seat each in the last elections.

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PARIS — Marjane Satrapi, the French-Iranian artist, author and filmmaker whose graphic novel “Persepolis” offered a poignant, humorous and unflinching look at life during and after the Iranian Revolution, died Thursday in Paris. She was 56.

People close to Satrapi told Agence France-Presse that she “died of sadness a little over a year after the death of Mattias Ripa, her husband and the love of her life.” Ripa, a Swedish producer and translator who worked closely with her on several projects, died in April 2025.

The French presidency confirmed her death in a statement that praised her as “a leading figure in French culture and an artist deeply committed to freedom, whose work carried a universal message and earned her immense international acclaim.” It added that she “captivated a global audience” with “Persepolis.”

Born Marjane Ebrahimi on Nov. 22, 1969, in Rasht, northern Iran, Satrapi grew up in a politically active leftist family in Tehran. The 1979 Islamic Revolution, which she experienced as a child, profoundly shaped her worldview and artistic output. Restrictions on women and girls, including mandatory veiling and gender separation in schools, became part of daily life under the new regime.

In “Persepolis,” first published in France in 2000 and later translated into English, Satrapi recounted her coming-of-age story through stark black-and-white drawings. The memoir captured both the absurdity and terror of the era — from family debates over politics to the Iran-Iraq War, executions and personal rebellion. One memorable scene depicted young girls tying their veils together during recess to make a skipping rope.

Her parents, fearing for her safety amid growing repression, sent her to Austria at age 14. There, she faced isolation, homelessness and health struggles before returning to Tehran. She studied art in Iran, entered a brief marriage, and moved permanently to France in 1994 at age 24. She gained French citizenship in 2006.

Global Acclaim for ‘Persepolis’

“Persepolis” became an international bestseller and was adapted into an animated film in 2007, which Satrapi co-directed with Vincent Paronnaud. The film premiered at the Cannes Film Festival, where it won the Jury Prize, and earned an Oscar nomination for best animated feature. Its success introduced millions to the everyday realities of Iranians living under the Islamic Republic.

The series expanded into multiple volumes, followed by other graphic works including “Chicken with Plums” and “Embroideries.” Satrapi preferred to call her works “comic books” rather than graphic novels, emphasizing their accessibility.

Beyond books, she directed the 2019 biographical drama “Radioactive,” starring Rosamund Pike as scientist Marie Curie. Her artistic range also included children’s books and contributions to various publications.

Activism and Advocacy

Satrapi remained a vocal critic of Iran’s theocratic government throughout her life. She became a prominent supporter of the “Woman, Life, Freedom” movement that erupted after the 2022 death of Mahsa Amini in police custody. She contributed to and helped curate the 2024 anthology “Woman, Life, Freedom,” which highlighted Iranian women’s resistance through art.

The Narges Foundation, an Iranian women’s human rights group, described her as “a fearless advocate for feminism, women’s rights” who championed “the struggles and resilience of Iranian women.”

In 2025, Satrapi declined France’s Legion of Honour, the country’s highest civilian award, citing what she called the government’s “hypocritical attitude towards Iran,” particularly its lack of stronger solidarity with Iranian protesters and French citizens held hostage there.

Personal Life and Legacy

Satrapi’s marriage to Ripa was central to her life and work. He assisted with English translations of “Persepolis” and collaborated on many creative endeavors. His death in 2025 deeply affected her, according to those close to the family.

Tributes poured in from across the cultural and political worlds. French President Emmanuel Macron’s office highlighted her role in bridging cultures and challenging stereotypes through deeply personal storytelling.

Satrapi’s work often explored themes of exile, identity, rebellion and the clash between tradition and modernity. Her simple yet powerful visual style made complex political realities accessible to readers of all ages and backgrounds. “Persepolis” remains required reading in many schools worldwide, though it has faced challenges and bans in some places, including Iran.

Her story resonated particularly with young women and diaspora communities. By portraying her younger self as outspoken, curious and sometimes defiant, Satrapi humanized the Iranian experience beyond headlines of politics and conflict.

A Lasting Cultural Impact

Satrapi’s influence extended beyond literature and film. She inspired a generation of artists to use graphic storytelling for social commentary. Her ability to blend humor with heartbreak allowed readers to connect emotionally with historical events often reduced to abstractions.

In interviews over the years, she emphasized the importance of cultural exchange and understanding. She once noted that ordinary people across borders often share more in common than governments might suggest.

As news of her death spread on June 4, 2026, artists, writers and activists reflected on her courage. Her passing comes at a time of continued global attention on Iran, making her voice and body of work even more relevant.

Satrapi is survived by family members and a vast international audience touched by her honest depictions of resilience amid adversity. Her books continue to be published in dozens of languages, ensuring that the stories she told will reach new generations.

In the Élysée Palace statement, officials described her departure as a significant loss for French and world culture. Through “Persepolis” and her broader oeuvre, Satrapi transformed personal memory into universal art, leaving an indelible mark on how the world understands Iran and the human cost of political upheaval.

Citi Research has initiated coverage on the shares of four Indian electrical equipment-makers, as it sees India uniquely positioned to benefit from a large domestic transmission buildout, accelerating HVDC adoption, favourable localisation policies and export opportunities.

Citi initiated ‘Buy’ calls on the shares of Hitachi Energy India (Power India), GE Vernova T&D India as well as CG Power and Industrial Solutions, along with a ‘Neutral’ rating on Siemens Energy. It highlighted that the Central Electricity Authority’s (CEA) approximately Rs 7.9 lakh crore transmission plan for 900 GW renewable integration by FY36 points to a multi-year buildout of HV and HVDC infrastructure. “We estimate HVDC alone represents a Rs 1.6 lakh crore OEM opportunity, with meaningful barriers to entry supported by localisation norms and certification requirements,” it said.

Accelerating renewable adoption, electrification and data-center growth are meanwhile driving a $15 trillion global T&D capex cycle over 2025-2050, Citi said. As renewables could make up approximately 80% of future capacity additions (BNEF), it added that higher transmission and grid-stabilization requirements should sustain investment demand. Persistent transformer shortages & increasing global HVDC sourcing likely position Indian T&D OEMs as key beneficiaries, it further said.

Citi on Hitachi Energy India

Hitachi Energy India remained Citi’s top pick among the pack, as it highlighted that it has a higher probability of near-term HVDC wins, expanding capacity to capture market share and significant long-term growth visibility. “Thus, we value it at a premium to the broader cap goods companies given higher growth expectation,” it said, while assigning a target price of Rs 46,700 apiece for the shares of Hitachi Energy India. This implies an upside potential of nearly 33% from the stock’s previous closing price of Rs 35,190 per share on NSE.

Citi on GE Vernova T&D India
For GE Vernova T&D India, Citi kept a target price of Rs 6,200 per share, implying an upside potential of nearly 25% from the stock’s previous closing price. It said that the firm has strong HVDC and export exposure, with medium-term growth being supported by capacity expansion and parent’s global platform.
Citi on CG Power
Citi kept a target price of Rs 1,100 apiece for the shares of CG Power and Industrial Solutions, implying an upside potential of more than 21% from the stock’s previous closing price. It highlighted the firm’s diversified exposure to transmission, railways, industrials and semiconductors, supported by aggressive capacity addition, though increasing competition in motors and railways is limiting margin upside in the segment.
Citi on Siemens Energy
Siemens Energy is the only stock on the list that received a ‘Neutral’ rating from Citi, with a target price of Rs 4,000 apiece, implying an upside potential of more than 8.5% from the stock’s previous closing price of Rs 3,686.60 apiece on NSE.

The shares of Siemens Energy gained more than 1%, while those of CG Power were up around 4%, as seen at 1.50 pm on Thursday. GE Vernova T&D India shares jumped over 2% while Hitachi Energy India shares rallied around 5%.

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

As geopolitical headwinds make it tougher for equity investors to make money, Dalal Street’s top voice Nilesh Shah, managing director of Kotak Mahindra Asset Management, told a gathering of HNI investors at the ET Alpha Wealth Summit on Thursday that there are four specific investment structures which deserve a place in most portfolios right now.

Shah’s first recommendation was the Special Investment Fund, or SIF, a structure that marks a meaningful shift in what is available to Indian investors. Shah noted that the mutual fund industry has, until now, been a long-only business but the SIF changes that. These are long-short, absolute return-oriented funds, designed to generate returns regardless of market direction rather than simply riding the equity tide.

The second vehicle Shah flagged is performing credit AIFs. His reasoning was grounded in a simple supply-demand observation that for corporate settlements today, capital is not available from banks, mutual funds, or insurance companies.

As institutional lenders have stepped back, borrowers are plenty and lenders very few. Amid this imbalance, Shah said the need is real and returns are attractive. Performing credit AIFs, which lend into this gap, are positioned to benefit directly from the scarcity of competing capital.

The third idea was REITs, and here Shah introduced a timing element. Over the last three years, REITs have delivered index-level returns of around 13.5%. But with interest rates rising, he suggested that the next six to nine months may present an opportunity to enter at better prices.
Rising rates typically compress REIT valuations in the near term, and Shah framed any such correction as a potential entry point rather than a risk to avoid. Beyond the return potential, he positioned REITs as a portfolio diversification tool as the asset class behaves differently from equities and fixed income, and that is still underrepresented in most Indian investor portfolios.The fourth recommendation addressed global diversification but came with an important caveat. Mutual fund industry limits for overseas investment are currently full, which means the conventional route for Indian investors to access global markets through domestic mutual funds is closed.

Shah pointed to Gift City as the workaround. Structures domiciled there allow investment under the Liberalised Remittance Scheme, and in his view, these Gift City-based LRS products are the practical path for investors who want global exposure while the mutual fund window remains shut.

Across all four — the SIF, performing credit AIFs, REITs, and Gift City products — Shah’s underlying argument was the same: in a volatile period, the portfolio needs instruments that can generate positive returns through means other than a rising equity market.

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