The recently listed Life Insurance Corporation of India (LIC) and Adani Wilmar have been included in the list of largecap stocks by the Association of Mutual Funds in India (AMFI). With this, Adani Power, Cholamandalam Investment and Finance, Bank of Baroda, Hindustan Aeronautics Limited and Bandhan Bank have been included in the list from midcap stocks to largecap stocks on behalf of AMFI. AMFI compiles a list of largecap, midcap and smallcap stocks every year at a regular interval. On the basis of this list, fund managers prepare their portfolio.
New Largecap Shares: In the new list, the market cap cut-off of largecap shares has been kept at Rs 47,500 crore. This means that only companies worth more than Rs 47,500 crore have been included in this list. Market leading broker company Edelweiss said that 68.8 out of the top 100 listed companies in the country were included in the list of large caps during the January review, but this time the figure has reached 69.9. The major companies that figure in the list of midcap to largecap lions are Adani Power, Cholamandalam Investment and Finance, Bank of Baroda, Hindustan Aeronautics and Bandhan Bank.
Stocks moving from largecap to midcap: AMFI has downgraded IDBI Bank, HDFC AMC, Godrej Properties, Steel Authority of India (SAIL), Zydus Lifesciences, Jubilant Foodworks and PB Fintech (PolicyBazaar) from largecap to midcap list. The market cap cut off for midcap stocks has been kept at Rs 16,400.
Along with this, Tata Tele Maharashtra, KPR Mills, Tanla Platforms, Poonawalla Fincorp, Phoenix Mills, SKF India and Chambal Fertilizers have been upgraded from smallcap category to midcap category.
Shares getting the smallcap tag: AGS Transact Technologies, UMA Exports, Veranda Learning, Hariom Pipes, Campus Activewear, Rainbow Children Medicare, Prudent Corporate Advisory Services, Venus Pipes, Paradip Phosphate and Ethos Ltd have been added to the smallcap list.
With this Nuvoco Vista, Aditya Birla AMC, UCO Bank, Natco Pharma, GR Infraprojects, Indiamart Intermesh, Happiest Minds, Ajanta Pharma and Sanofi India have been moved from midcap to smallcap list.