Sensex, Nifty rise marginally; NTPC up 5%, ITC falls 2%

Moneycontrol Bureau11:55 am Result boardroom: FMCG major Emami reported a 32.97 percent decline in consolidated net profit at Rs 61.34 crore for Q2 on account of amortisation of Kesh King intangibles. Speaking to CNBC-TV18, chief financial officer NH Bhansali, says a strong summer season had an impact on its sales. While the demand in rural and urban India continues to be mixed, Bhansali is hopeful of logging a decent Q3, Q4 on a strong winter season. After its acquisition of hair and scalp brand Kesh King in Q1, Bhansali says the company is open to more such deals.11:45 am Moody's view on Modi: Against the backdrop of controversies like on beef, Moody's Analytics cautioned Prime Minister Narendra Modi that the country may lose domestic and global credibility if he doesn't rein in the members of his party. In a report titled India Outlook: Searching for Potential, Moody's Analytics said for the country to reach its growth potential it has to deliver the promised reforms. "Undoubtedly, numerous political outcomes will dictate the extent of success," it said.

The ruling BJP does not have a majority in the Rajya Sabha and crucial reforms bills has been met with an obstructionist opposition. "But in recent times, the government also hasn't helped itself, with controversial comments from various BJP members.

11:30 am Draft aviation policy: With a view to popularise air travel among the middle class, the draft civil aviation proposes to boost regional connectivity and cap airfares for one hour flights between small cities at Rs 2500 per passenger. There will be no frills airports in smaller cities with the government reviving unused airports—many of them from the time of World War II—and spending Rs 50 crore per airport. To help airline companies keep their costs down, the draft policy has proposed that aviation turbine fuel drawn from regional connectivity airports be exempted from custom duty. Also, the policy has proposed waiver of service tax on maintenance, repair and overhaul (MRO) expenses incurred by airline companies.Don't miss: IDFC Bank shares may list for trading on November 6

The market is treading up slightly as the Sensex is gains 55.86 points at 26894. The Nifty up 23.15 points or 0.3 percent at 8134.90. About 1219 shares have advanced, 895 shares declined, and 126 shares are unchanged.