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“If you remove the SUVs, Maruti Suzuki’s market share is at record high at the moment at about 66% and that is really good. However, if SUVs are included, then the market share comes down because in SUVs, we are among the weaker wicket as far as the market share is concerned.”

Mining stocks climbed 1.4%. Iron ore futures in China closed at a near 8-month high on Friday as hopes for economic stimulus rose following a month of COVID-19 induced lockdowns.

The pan-European STOXX 600 index was up 0.3% after ending last week up 1%.

The inflationary pressures are becoming more generalised given the broad-based surge in input costs.

On Monday, the first day of trade after the borrowing calendar was released, yield on the 10-year benchmark paper shot up as much as 9 basis points to 6.93 per cent.

A total of 543,417 shares changed hands on the counter till 01:39PM (IST).

“Lower cost of funds will be made available for the mortgage business. The bank will have access to the time tested mortgage origination and loan servicing processes of HDFC. The mortgage business has immense potential and hence the merger will help the group enhance its market share consequent to further leveraging on the distribution network of HDFC Bank.”

On the technical charts, the RSI of the stock stood at 60.6.

The stock quoted a 52-week high price of Rs 739.8 and a 52-week low of Rs 469.75.

The stock traded at a P/E multiple of 47.15, while the price-to-book value ratio stood at 4.75.