BENGALURU, Aug 7 (Reuters) - Indian shares rose marginally on Monday, helped by pharma and auto stocks, amid caution in a data-heavy week that includes U.S. inflation data and the Reserve Bank of India's monetary policy decision.

The Nifty 50 index was up 0.24% at 19,563.05 at 10:22 a.m. IST, while the S&P BSE Sensex rose 0.25% to 65,883,65.

Asian markets were even more subdued, with the MSCI Asia ex-Japan losing 0.05%.

"Overall valuations are somewhat stretched and to that extent, the mood is cautious," Rajeev Thakkar, chief investment officer and director at PPFAS Asset Management.

"The (India) earnings season has been along expected lines, but I do not think it justifies our runaway market."

Analysts expect the markets to continue to consolidate between 19,150 and 19,800 levels ahead of U.S. inflation data and the RBI's monetary policy decision, both on Thursday.

Seven of the 13 major sectoral indexes logged gains, with the pharma index jumping 1.46% to a record high.

Lupin led the gains, adding nearly 3% and advancing for the sixth session in a row, continuing a post-earnings rally.

Aurobindo Pharma jumped 2% to a near two-year high after the U.S. health regulator completed a pre-approval inspection at its formulation manufacturing facility.

Mahindra & Mahindra climbed nearly 3% and was the top Nifty gainer after the automaker said on Friday that its quarterly profit nearly doubled.

On the flip side, Britannia dropped 1.7%, the most on the Nifty, after the biscuits maker reported quarterly earnings below market estimates.

Paytm surged as much as 11.44% on the fintech firm's founder and CEO, Vijay Shekhar Sharma, plan to buy back a 10.3% stake in the company a unit of China's Ant Financial. (Reporting by Bharath Rajeswaran and Manvi Pant in Bengaluru; Editing by Savio D'Souza)