News digest: Karnataka results, PNB posts loss, Essar Steel bid, and more

It was clear from initial reactions in Bengaluru and Delhi that the BJP was not interested in tying up with the JD(S) to form a government at any cost

1. Karnataka fate hangs in balance: BJP or Cong, who will have the last laugh?

Karnataka is headed for a spell of political instability as the Bharatiya Janata Party (BJP) emerged the single-largest party with 104 seats after the just-concluded Assembly elections, but could not reach the halfway mark of 112. The Congress, with 78 seats, acted with swiftness and agility, contacted the H D Deve Gowda-led Janata Dal (Secular), or JD(S), with 38 seats, offered the smaller party chief ministership and stitched up an agreement to forestall an understanding between the JD(S) and the BJP.

At the time of filing this