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Indian shares are set to open higher on Monday, tracking a rebound in Asian peers, while top private lender HDFC Bank's stock will be in focus following its quarterly results.

India's GIFT Nifty was trading at 22,281 as of 8:14 a.m. IST, indicating that the Nifty 50 will open above its Friday's close of 22,147.

The benchmark indexes Nifty and S&P BSE Sensex closed higher on Friday, led by HDFC Bank, although the gains were not enough to prevent weekly losses.

The blue-chip indexes lost about 1.6% each last week.

Asian peers underperformed Indian shares, with the MSCI Asia ex-Japan index falling 3.7% last week, as worries over geopolitical tensions in the Middle East and elevated bets of delay in U.S. rate cuts weighed on risk sentiment.

However Asian shares rebounded on Monday, rising about 1%. [MKTS/GLOB]

The heaviest stock in the benchmark indexes, HDFC Bank will be in focus, after the lender reported a smaller-than-expected March quarter profit due to higher provisions, even as its core lending margins held steady.

Street reaction to in-line results of the country's No. 4 software-services exporter Wipro is also awaited, as earnings take centre stage in a week in which more than ten Nifty 50 companies are due to report their results.

India's most valuable company, Reliance Industries will report results later on Monday.

STOCKS TO WATCH:

** HDFC Asset Management Company: Company reported about a 44% jump in consolidated net profit in the March quarter, and also declared a dividend of 70 rupees per share.

** Indian Renewable Energy Development Agency: Company reported 33% rise in quarterly profit.

** Laurus Labs: Company said the U.S. drug regulator completed the inspection of its facilities in Anakapalli, without any Form-483 observations.

** Key earnings today: Reliance Industries, Mahindra Logistics, Rallis India, Hatsun Agro Products