PSU bank stocks soar up to 8%, but HDFC, Axis and other private lenders fall up to 5% after Q2 results. Why the sharp divide?

Shares of public sector banks surged up to 8% on Monday, buoyed by Punjab National Bank’s strong Q2 results. In contrast, private sector lenders fell up to 5% as earnings from HDFC Bank, Axis Bank, ICICI Bank and others failed to impress investors.The Nifty PSU Bank index rose more than 2%, while th