The threshold of large-cap stocks is set to touch ₹1 lakh crore against ₹84,000 crore logged in the last list announced in June with 11 mid-cap stocks classified as large-cap in the AMFI classification list to be announced in January.
Interestingly, the four newly listed companies – Hyundai Motors, NTPC Green, Bajaj Housing Finance and Swiggy – will be classified as large-caps, according Nuvama Institutional Equities research.
Based on market-cap, AMFI reclassifies large, mid and small cap stocks every six months. The official list will serve as a reference for active domestic fund managers of mutual fund industry to base their scheme investment.
The cut-off period spans from July 1 to December 31 with the announcement expected in the first week of January. The categorisation will take effect from next February.
The other companies that will be upgraded to large-cap include CG Power, Rail Vikas Nigam, ICICI Prudential, Polycab India, Indus Towers, Cummins India and Info Edge.
Some of the large-caps that will be downgraded to mid-caps include Adani Total Gas, NHPC, Shree Cements, IDBI Bank, Bharat Heavy Electricals, Union Bank of India, Canara Bank Mankind Pharma, IndusInd Bank, Jindal Steel & Power and Appollo Hospitals Enterprises.
The mid-cap threshold is expected to soar to ₹32,900 crore against ₹27,500 crore in June. The threshold of each group has been hitting a new high with the sustained bullish trend in market.
New listings
Among new listings that will classified as mid-cap include Waaree Energies, Premier Energies, Vishal Mega Mart and Old Electric Mobility. This apart, existing small-cap stocks that will be reclassified as mid-caps include GE T&D India, 360 One WAM, Kaynes Tech and Aditya Birla Fashion.
The downgrades from mid to small-cap includes Indian Telephone Industries(ITI), ZF Commercial, Delhivery, Poonawalla Fin, Hindustan Copper, Motherson Sumi Wiring, Global Health, Gland Pharma, Bandhan Bank, Mangalore Refinery, Go Digit General Insurance and Star and Allied Insurance.
As per SEBI definition, the top 100 companies in terms of market capitalisation are categorised as large-cap while stocks from 101 to 250 are termed as mid-cap while the remaining stocks from 251 are clubbed as small-cap stocks.
New entrants
The new entry into small-cap space include Brainbees (First Cry), Baazar Style, Emcure Pharma, Interarch Building Products, Afcons Infra, ECOS Mobility, Sagility India, Sanstar, ACME Solar, Suraksha Diagnositcs, Niva Bupa Health Insurance, Unicommerce Esolutions, Raymond Lifestyle, Godavari Biorefineries, Sai Life Sciences, Orient Technologies, Akums Drugs and Pharma, Western Carriers, PN Gadgil Jewellers, Kross, Allied Blenders and Distillers, Diffusions Engineers, Bansal Wire Industries, Gala Precision Engineering, Zinka Logistics, Gurada Constructions, Ceigall India, Deepak Builders, Enviro Infra Engineers, Manba Finance, Northern Arc, Tolins Tyres, KRN Heat Exchangers, One Mobikwik, KRN, Vraj Iron and Steel, Shree Tirupati Balajee Agro, Arkade Developers and Saraswati Saree Depot.
