Adani Total Gas, NMDC, Apollo Hospitals Enterprises, Cholamandalam Investment and Finance, Steel Authority of India, Bank of Baroda, and Honeywell Automation India have been added to the large-cap list by the Association of Mutual Funds in India (AMFI).
AMFI has classified the newly listed India Railways Finance Corporation, Macrotech Developers, Sona BLW Precision Forgings, and Indigo Paints as midcaps.
On Dalal Street, Adani Total Gas, SAIL, and NMDC are among the newly crowned large-cap stocks. AMFI elevated seven midcap equities to large caps in its semi-annual assessment while reclassifying seven others from the large-cap pocket to midcap.
AMFI’s reclassification in January-June follows the pattern projected by brokerage firms. Every two years, AMFI reclassifies all publicly traded firms based on their market capitalization.
Fund houses should adjust their portfolios to reflect the new classifications based on AMFI’s amended list.
Largecap Category Changes
To the large-cap list, AMFI has now included Adani Total Gas, NMDC, Apollo Hospitals Enterprises, Cholamandalam Investment and Finance, Steel Authority of India, Bank of Baroda, and Honeywell Automation India. The market capitalization cut-off for large-cap equities has been raised to
Rs 37,746 crore in the most recent reclassification, up from Rs 28,897 crore in the previous reclassification.
PI Industries, Hindustan Petroleum Corporation, IGL, Petronet, Alkem Labs, HAL, and Abbott India have been reclassified as midcaps from large caps to make room for new entries.
Midcap Category Changes
AMFI has classified the newly listed India Railways Finance Corporation, Macrotech Developers, Sona BLW Precision Forgings, and Indigo Paints as midcaps.
Tata Elxsi, APL Apollo Tubes, Kajaria Ceramics, Bank of Maharashtra, Apollo Tyres, Indian Bank, Alkyl Amines Chemicals, Linde India, Affle (India), Blue Dart Express, and Vaibhav Goyal have all been promoted from small to midcap status.
Metropolis Healthcare, Prestige Estate Projects, ITI, Mahanagar Gas, Procter & Gamble Health, Credit Access Grameen, Central Bank of India, SJVN, Akzo Nobel, IIFL Wealth Management, and Motilal Oswal Financial Services are among the stocks that have been reclassified from midcaps to small-caps.
The market capitalization cutoff for midcap stocks has gone upward, similar to the large-cap cutoff. Midcap stocks now have an average market capitalization of Rs 11,819 crore, up from Rs 8,389 crore during the December-January reclassification.
AMFI has given mutual fund companies one month to match their portfolios with the new categorization. According to the most recent SEBI circular on multi-cap funds, these funds must have at least 25% of midcaps, large-caps, and small-caps in their portfolio.
