Deutsche Bank and Citigroup raised their targets for the BSE stock index after the government announced reforms last week, including opening up the country's multi-brand retail sector to foreign direct investment.
Deutsche Bank raised its December 2012 target for the BSE Sensex to 20,000.
Citigroup raised its BSE target to 19,900 for June 2013 from its previous target of 18,400 for December.
The BSE Sensex closed at 18,464.27 on Friday.