The key part of error is this:
Failed to increase reservation by 429.94 MB because it would exceed the applicable reservation limit for the "Process" ReservationTracker: reservation_limit=255.00 GB reservation=255.00 GB
The Impala Daemon hydwtbdn1.icicisecurities.corp does not have enough process memory to reserve for the new query.
Basically too many queries are reserving too much memory concurrently at the same time. So this new query coming in could not run as not enough memory was available. Either reduce concurrency of queries to be able to run the query. Or set memory limits for queries so that each individual query reserves less memory.
https://docs.cloudera.com/runtime/7.3.1/impala-manage/topics/impala-admission.html
Or you can give Impala more process mem_limit in Configurations.