Sensex, Nifty Touch All-Time High Day After BJP's Poll Victory In 3 States

India's benchmark indexes opened at fresh all-time highs on Monday, aided by strong domestic macroeconomic data and elevated bets of a US rate cut in March, while analysts saw momentum picking up in the ongoing rally after the ruling Bharatiya Janata Party's (BJP) victory in key state elections.

The NSE Nifty 50 index rose 1.65% to 20,602.50 points, notching a record high for second session in a row. The S&P BSE Sensex was up 1.64% to an all-time high of 68,587.82, as of 9:16 a.m. IST.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Sensex, Nifty Touch All-Time High Day After BJP's Poll Victory In 3 States

India's benchmark indexes opened at fresh all-time highs on Monday, aided by strong domestic macroeconomic data and elevated bets of a US rate cut in March, while analysts saw momentum picking up in the ongoing rally after the ruling Bharatiya Janata Party's (BJP) victory in key state elections.

The NSE Nifty 50 index rose 1.65% to 20,602.50 points, notching a record high for second session in a row. The S&P BSE Sensex was up 1.64% to an all-time high of 68,587.82, as of 9:16 a.m. IST.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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PSPCL Posts Rs 564 Crore Q3 Profit On Lower Power Purchase, More Generation

The Punjab State Power Corporation Ltd (PSPCL) has made a profit of Rs 564.76 crore for period ending September as against a loss of Rs 1,880.25 crore in the year-ago period.

Under the Aam Aadmi Party (AAP) government led by Chief Minister Bhagwant Mann, the timely repayment of Rs 12,342 crore subsidy to PSPCL helped considerably, according to a statement.

The Punjab government's support was vital for PSPCL to achieve the profit of 564.76 crore. The state government's role was instrumental in amplifying the power company's revenue surge and tariff adjustments.

PSPCL took several measures to ensure that power purchase cost remains under check, the statement said. It ensured 19 per cent more generation from state-owned thermals at Lehra Mohabbat and Ropar due to availability of cheaper coal from its Pachhwara coal mine.

It generated 21 per cent more power from own hydel plants; 14 per cent more generation from BBMB hydel plants, and 13 per cent more banking of power with other states.

There has been a 48 per cent reduction in power purchase through short term and purchase from exchange.

No imported coal was used at the state thermal plants in Ropar and Lehra Mohabbat due to operationalisation of the Pachhwara coal mine. A miniscule amount of imported coal was used at private thermals at Rajpura and Talwandi Sabo.

PSPCL's sale of power in exchange was worth Rs 924 crore from April to September 2023  against Rs 293 crore from April to September 2022.

The power purchase from exchange was worth Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, as against Rs 1,914 crore at Rs 5.54 per unit in 2022. Transmission and distribution losses have reduced by 1 per cent.

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PSPCL Posts Rs 564 Crore Q3 Profit On Lower Power Purchase, More Generation

The Punjab State Power Corporation Ltd (PSPCL) has made a profit of Rs 564.76 crore for period ending September as against a loss of Rs 1,880.25 crore in the year-ago period.

Under the Aam Aadmi Party (AAP) government led by Chief Minister Bhagwant Mann, the timely repayment of Rs 12,342 crore subsidy to PSPCL helped considerably, according to a statement.

The Punjab government's support was vital for PSPCL to achieve the profit of 564.76 crore. The state government's role was instrumental in amplifying the power company's revenue surge and tariff adjustments.

PSPCL took several measures to ensure that power purchase cost remains under check, the statement said. It ensured 19 per cent more generation from state-owned thermals at Lehra Mohabbat and Ropar due to availability of cheaper coal from its Pachhwara coal mine.

It generated 21 per cent more power from own hydel plants; 14 per cent more generation from BBMB hydel plants, and 13 per cent more banking of power with other states.

There has been a 48 per cent reduction in power purchase through short term and purchase from exchange.

No imported coal was used at the state thermal plants in Ropar and Lehra Mohabbat due to operationalisation of the Pachhwara coal mine. A miniscule amount of imported coal was used at private thermals at Rajpura and Talwandi Sabo.

PSPCL's sale of power in exchange was worth Rs 924 crore from April to September 2023  against Rs 293 crore from April to September 2022.

The power purchase from exchange was worth Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, as against Rs 1,914 crore at Rs 5.54 per unit in 2022. Transmission and distribution losses have reduced by 1 per cent.

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Centre Bans 'Dark Patterns' On E-Commerce Platforms; Notifies Guidelines

In order to protect consumers' interest, the government has banned use of "dark patterns" on e-commerce platforms which intend to deceive customers or manipulate their choices.

A gazette notification in this regard as "Guidelines for prevention and regulation of dark patterns" was issued on November 30 by the Central Consumer Protection Authority (CCPA) which is applicable to all platforms offering goods and services in India, and even advertisers and sellers.

Resorting to dark patterns will amount to misleading advertisement or unfair trade practice or violation of consumer rights. The penalty will be imposed as per the provisions of the Consumer Protection Act, it added.

"In the emerging digital commerce, dark patterns are increasingly being used by the platforms to mislead the consumers by manipulating their buying choices and behaviour," Consumer Affairs Secretary Rohit Kumar Singh told PTI.

The notified guidelines will ensure clarity in the minds of all stakeholders -- buyers, sellers, marketplaces and regulators - as to what is not acceptable as unfair trading practices, the latter being liable under the Consumer Protection Act, he added.

According to the notification, dark patterns have been defined as any practice or deceptive design pattern using user interface or user experience interactions on any platform that is designed to mislead or trick users to do something they originally did not intend or want to do, by subverting or impairing the consumer autonomy, decision making or choice.

For instance, 'basket sneaking' is a dark pattern that includes additional items such as products, services, payments to charity or donation at the time of checkout from a platform, without the consent of the user, such that the total amount payable by the user is more than the amount payable for the product or service chosen by the user.

Another dark pattern called "forced action" means forcing a user into taking an action that would require the user to buy any additional goods or subscribe or sign up for an unrelated service or share personal information in order to buy or subscribe to the product or service originally intended by the user.

Likewise, CCPA has specified 13 dark patterns to provide only as a guidance for the industry.

Initially, CCPA had identified 10 dark patterns but after the public consultation another three were included.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Centre Bans 'Dark Patterns' On E-Commerce Platforms; Notifies Guidelines

In order to protect consumers' interest, the government has banned use of "dark patterns" on e-commerce platforms which intend to deceive customers or manipulate their choices.

A gazette notification in this regard as "Guidelines for prevention and regulation of dark patterns" was issued on November 30 by the Central Consumer Protection Authority (CCPA) which is applicable to all platforms offering goods and services in India, and even advertisers and sellers.

Resorting to dark patterns will amount to misleading advertisement or unfair trade practice or violation of consumer rights. The penalty will be imposed as per the provisions of the Consumer Protection Act, it added.

"In the emerging digital commerce, dark patterns are increasingly being used by the platforms to mislead the consumers by manipulating their buying choices and behaviour," Consumer Affairs Secretary Rohit Kumar Singh told PTI.

The notified guidelines will ensure clarity in the minds of all stakeholders -- buyers, sellers, marketplaces and regulators - as to what is not acceptable as unfair trading practices, the latter being liable under the Consumer Protection Act, he added.

According to the notification, dark patterns have been defined as any practice or deceptive design pattern using user interface or user experience interactions on any platform that is designed to mislead or trick users to do something they originally did not intend or want to do, by subverting or impairing the consumer autonomy, decision making or choice.

For instance, 'basket sneaking' is a dark pattern that includes additional items such as products, services, payments to charity or donation at the time of checkout from a platform, without the consent of the user, such that the total amount payable by the user is more than the amount payable for the product or service chosen by the user.

Another dark pattern called "forced action" means forcing a user into taking an action that would require the user to buy any additional goods or subscribe or sign up for an unrelated service or share personal information in order to buy or subscribe to the product or service originally intended by the user.

Likewise, CCPA has specified 13 dark patterns to provide only as a guidance for the industry.

Initially, CCPA had identified 10 dark patterns but after the public consultation another three were included.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Nifty Hits All-Time High After Upbeat Growth Data, Sensex Up 300 Points

Nifty hit a fresh record high on Friday, as faster-than-expected economic growth in the September-quarter added to optimism over the global interest rate outlook.

The NSE Nifty 50 index rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex was up 0.44% at 67,286.16, as of 9.35 am.

The Indian economy expanded 7.6% in the September-quarter, faster than the 6.8% forecast in a Reuters poll of economists and the Reserve Bank of India's estimate of 6.5%, led by manufacturing growth.

"India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said.

The expectation that we are at the peak of the interest rate cycle in the US has facilitated the move of flows towards more risky assets like emerging equities, especially India, Gubbi added.

Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows.

FPIs snapped a two-month selling streak in November, adding stocks worth 90 billion rupees ($1.1 billion).

Wall Street equity indexes rose overnight, with the Dow Jones Industrial Average clocking its best month since October 2022, after consumer spending data signalled cooling demand, boosting the rate outlook.

Meanwhile, exit polls for state elections showed a narrow advantage for Bharatiya Janata Party in the key states of Rajasthan and Madhya Pradesh, while the Congress is seen to be leading in Chhattisgarh and Telangana.

"A decisive BJP win will reinforce consensus that the party is on the front-foot for 2024 general elections and likely add another leg of rally to markets," said three analysts led by Madhavi Arora, lead economist at Emkay Global Financial Services.

India's general elections are due early next year.

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