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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.

“When one is transiting from an NBFC into a banking environment, there is a certain period where the shareholders will have to accept that there is a long term perspective involved and to that extent, the whole profile of shareholders also will change. But all said and done, I would say that in the Indian banking history, this would be one of the perhaps most interesting news.”

JM Financial says Deepak Nitrite is its top bet in the chemicals sector as despite its inherent cost advantages for its upcoming phenol derivative products and strong entry barriers, it is currently trading at a significant discount to its peers.

Garden Reach shipyard is currently undertaking concurrent construction of 23 ships, including three P17A stealth frigates, four survey vessels and six patrol boats, for Indian Navy, India Coast Guard, Republic of Guyana and Bangladesh, reports said.