Following credit rating upgrades by S&P Global Ratings, several banking and financial stocks, including HDFC Bank, SBI, and ICICI Bank, are expected to be in focus on Monday, August 18. On Friday, August 15, S&P upgraded the long-term issuer credit ratings of seven Indian banks—SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank—just a day after raising India’s sovereign rating. Bajaj Finance, Tata Capital, and L&T Finance were also among the three financial institutions that received rating upgrades. A day earlier, S&P had upgraded ONGC, Power Grid, NTPC, and Tata Power to ‘BBB’ from ‘BBB–’ with a stable outlook. This marked India’s first sovereign upgrade from S&P since 2007, citing resilient growth and fiscal consolidation. With India’s rating now at “BBB,” borrowing costs for the government may decline, enabling cheaper credit access for banks and NBFCs. Economists believe this could boost credit demand and economic activity. Lower risk premiums may also attract more global capital, benefiting key sectors and major listed companies.