"Balasaheb is stable now. Need not worry. He is responding to doctors' efforts," Raut, a Rajya Sabha MP, told PTI.
Doctors attending to Thackeray (86) had said last night that he was in a "very critical" condition and on life support system.
None of the doctors attending on him were available for the latest update on his condition today.
BJP leader Gopinath Munde who visited 'Matoshree' this morning told reporters that "the Sena chief's health is better than last night".
As news spread about Thackeray's health, several party workers started assembling outside his residence 'Matoshree' in suburban Bandra, where security has been stepped up.
A number of Shiv Sena MPs, legislators and senior leaders also reached Thackeray's residence as the word spread.
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Security outside 'Matoshree' has been beefed up with police setting up barricades to streamline flow of crowds.
Police personnel all over the state are told to be on alert.
The party executive president Uddhav Thackeray had last night appealed to Shiv Sainiks to maintain calm and pray for senior Thackeray's health.
Senior leader Ramdas Kadam, who was among others who rushed to see the ailing patriarch, had told reporters last night that doctors were trying their level best to stabilise his condition.
MNS chief Raj Thackeray and close family members were at 'Matoshree'.
Meanwhile, shops in most parts of Mumbai have downed their shutters.