AMFI rejig: Threshold for largecap raised to ₹84,300 crore; Here’s a list of all stocks with change in m-cap category

The Association of Mutual Funds in India (AMFI) last week released the new stock categorization list, highlighting the changes in largecap, midcap and smallcap. According to the semi-annual categorization of AMFI for H2CY2024, the threshold for largecap stocks has now increased to ₹84,300 crore from ₹67,000 crore in December 2023.

The cut off for midcap also rose to ₹27,600 crore, compared to ₹22,000 crore previously.

A total of seven stocks were upgraded to largecap category from midcap, while similar number of stocks have been downgraded as smallcaps.

Breaking down the total market capitalisation, the largecap, which are the top 100 stocks, now represent 63.6%, down from December’s 64.4%. The midcaps (101-250) account for 18.2%, an uptick from 17.8% in the December review. Smallcaps (251 and beyond) make up 18.2%, an increase from December’s 17.8%, in line with Nuvama Alternative & Quantitative Research predictions.

The latest list will be effective from August 2024 to January 2025.

Stocks that have turned largecaps from midcaps are HeroMoto Corp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals Ltd (BHEL), Samvardhana Motherson International and Bosch are the new entrants in the large cap category.

On the contrary, stocks which moved from largecap to midcap include Berger Paints, SBI Cards & Payment Services, Marico, SRF, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company and Polycab India.

A total of 19 stocks have been upgraded to midcap from smallcaps. These include HUDCO, Bharat Dynamics, IRB Infrastructure Developers, MRPL, Global Health, BSE, Hitachi Energy, NLC India, Tata Investment Corporation, Cochin Shipyard, and others.

Bharti Hexacom and Go Digit General Insurance are the new additions in the category. Below is the lit of all the stocks that have turned midcaps from smallcaps:

Zee Entertainment Enterprises (ZEEL), IIFL Finance, Piramal Enterprises, Devyani International, Relaxo Footwear, CreditAccess Grameen, Kansai Nerolac and The Ramco Cements, are among 19 stocks that shifted to the smallcap category from midcap category. Here’s full list:

Meanwhile, a total of 32 stocks have made an entry in the smallcap segment. Some of these stocks are Aadhar Housing Finance, Juniper Hotels, Jana Small Finance Bank, Le Travenues Technology, Awfis Space Solutions, DEE Development Engineers, Popular Vehicles and Services, Capital Small Finance Bank and others.

Check the full list here:

It is to be noted that the change in categorization does not lead to incremental inflows or outflow. The active mutual fund managers watch the list while taking fresh positions or modifying their existing positions in stocks in different categories of schemes.

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