India's benchmark indexes rose on Monday, boosted by strong earnings from heavyweights HDFC Bank and ICICI Bank, while a decline in Reliance Industries, amid concerns over softness in its oil-to-chemicals and retail segments,

The NSE Nifty 50 rose 159 points, or 0.63%, to close at 25,220, while the S&P BSE Sensex added 540 points, or 0.66%, to settle at 82,727. However, the Nifty Bank index underperformed, slipping 454 points to end at 57,

ICICI Securities is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2350 in its research report dated July 20, 2025.

Shares of HDFC Bank and ICICI Bank , India's top private lenders by market capitalisation, gained more than 2% on Monday, after quarterly results inspired confidence about their ability to maintain healthy loan growth.

The divergence in performance comes on the back of robust earnings reported by key banking heavyweights over the weekend.