Shares of HDFC Bank and Axis Bank rose as much as 2.5% in Monday trading, contrasting sharply with a decline of up to 3.5% for Kotak Mahindra Bank.
The divergent price action followed the release of first-quarter business updates for the quarter ending June 30, 2026, by several major Indian lenders, including HDFC Bank, Yes Bank, Kotak Mahindra Bank, and IndusInd Bank.
6% to ₹398.90 after confirming a definitive agreement to acquire Deutsche Bank's retail and private banking operations in India.
The market's reaction highlights a rotation within the private banking sector, where investors are differentiating between peers based on early operational signals.
While HDFC Bank and Axis Bank saw buying interest, Kotak Mahindra Bank faced headwinds despite recent positive developments.
The lender had previously seen shares climb 1.6% to ₹398.90 after confirming a definitive agreement to acquire Deutsche Bank's retail and private banking operations in India.
Analyst sentiment remains broadly supportive of the sector's leaders.