The Association of Mutual Funds of India (AMFI) on January 4 announced the new market categorization list for H1 CY24. As per AMFI the Largecap threshold now stands at Rs 67,000 crore, up from Rs 49,700 crore in June 2023. Midcap cut-off has risen to Rs 22,000 crore from Rs 17,400 crore.
AMFI classifies largecap companies as those ranked from 1-100 in market capitalization, midcap companies as those ranked from 101-250, and smallcap companies as those ranked from 251 onwards.
As per the latest AMFI Rejig here are some of the PSU’s that have been upgraded from small-cap to midcap.
Mazagon Dock Shipbuilders
In the day’s trade on January 12, 2024, the shares of Mazagon Dock Shipbuilders Limited were trading at Rs. 2292.40, down 0.11 percent from its previous day’s close price of Rs. 2,294.85 and its market capitalization is Rs. 46,197 Crores.
Mazagon Dock Shipbuilders Limited is a Miniratna Public sector Undertaking which is one of India’s leading defense sector companies under the aegis of the Ministry of Defence, it is engaged in the construction, repair, and refurbishment of warships and submarines at its dedicated facilities in Mumbai and Nhava.
Mazagon Dock Shipbuilders is India’s only shipyard to have built Destroyers, and conventional submarines for the Indian Navy & manufacture corvettes in India. Since 1960 It has delivered 802 vessels of which 28 warships from advanced destroyers to missile boats and 7 submarines.
As of FY23, out of the revenue from operations, it generated 87.91 percent of its revenue from Ship construction, 9.85 percent from the sale of base and depot spares, and 2.22 percent from Ship repair. It has a strong order book worth Rs. 38,755 Crores.
The company’s revenue from operations grew 36.52 percent from Rs. 5,733.28 Crores in FY22 to Rs. 7,827.18 Crores in FY23, accompanied by increasing profits of Rs. 610.84 Crores to Rs. 1,119.03 Crores.
SJVN
SJVN Limited is Miniratna Central Public Sector Enterprise engaged in the business of generation, transmission, and consultancy of renewable energy sources like hydro energy, wind energy, and solar energy.
In the day’s trade on January 12, 2024, the shares of SJVN Limited were trading at Rs. 94.05, up 0.97 percent from its previous day’s close price of Rs. 93.15 and its market capitalization is Rs. 36,944 Crores.
As per the recent data, SJVN has expanded and diversified in Hydro, Thermal, Solar, and wind Energy, Power Transmission, and Power Trading. Currently, the project portfolio of the Company is more than 56,000 MW, with a presence in Pan India and Nepal and it is marching towards achieving its Shared Vision of generating 50,000 MW by 2040
The company’s revenue from operations grew 21.57 percent from Rs. 2,417 Crores in FY22 to Rs. 2,938.35 Crores in FY23, accompanied by increasing profits of Rs. 989.8 Crores to Rs. 1,359.3 Crores.
Indian Renewable Energy Development Agency
Indian Renewable Energy Development Agency Limited is a Miniratna Central Public Sector Enterprise engaged in the business of in the business of promoting, developing, and extending financial assistance for renewable energy (RE) projects, and energy efficiency & conservation (EEC) projects.
IREDA has a diversified loan book of Rs 47,514 crores in September 2023 and it has financed projects across multiple RE sectors such as solar power, wind power, hydropower, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green-mobility
In the day’s trade on January 12, 2024, the shares of Indian Renewable Energy Development Agency Limited were trading at Rs. 104.40, up 0.97 from its previous day’s close price of Rs. 103.40 and its market capitalization is Rs. 28,033 Crores.
Its revenue from operations grew 21.75 percent from Rs. 2,859.9 Crores in FY22 to Rs. 3,481.97 Crores in FY23, accompanied by increasing profits of Rs. 633.53 Crores to Rs. 864.63 Crores.
Written by: Bharath K.S
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