Indian stocks closed firmly higher on Monday as markets assessed a batch of corporate developments and continued gauging the outlook of Indian trade on uncertainty surrounding US tariffs, both direct and secondary. Both the S&P BSE Sensex and the Nifty 50 added 0.5% in the session, trimming losses from the two prior sessions. Banks lead the gains after HDFC Bank and ICICI Bank reported stronger-than-expected June quarter earnings, driving their shares over 2% higher. On the other hand, the giant Reliance Industries fell 3.2% after posting their earnings, despite beating estimates for both earnings and revenue, as brokers flagged risks to their oil-to-chemicals and retail segments. The company's energy arm was also pressured by potential tariffs on its goods after US President Trump threatened duties on companies that take in Russian goods for re-exports to escape sanctions. Also, UltraTech Cement closed higher ahead of their earnings report.