The classification comes for H1CY25 and also includes CG Power, Rail Vikas Nigam (RVNL), ICICI Prudential, Polycab India, Indus Towers, Cummins India and Naukri operator Info Edge.
Meanwhile, stocks which will move from largecap to midcap are Adani Total Gas, NHPC, IDBI Bank, Shree Cements, Union Bank of India, Bharat Heavy Electricals, Canara Bank, Jindal Steel & Power, IndusInd Bank, Mankind Pharma and Apollo Hospitals Enterprises.
AMFI’s market-cap cut-off for the large-cap segment is now Rs 1 lakh crore up from Rs 84,000 crore in June 2024.
Nuvama in a note called this move a “spectacular” and one driven by the current market momentum. “With the ongoing bull-run, these thresholds are continuously breaking records, setting new highs with every semi-annual review,” the note said. The mid-cap threshold is set to surge to Rs 33,200 crore, up from Rs 27,500 crore in June 2024.The largecaps comprise top 100 stocks and account for 62.1% of the market though this number has come down slightly from July’s 63.6%. Mid-caps i.e. from 101-250 are on the rise, making up 19.6%, up from 18.2% in the July review. As for the smallcaps i.e. 251 and beyond, the representation has grown modestly to 18.3% from July’s 18.2%.
“The market’s growth trajectory continues to shift, making this period a fascinating one for domestic investors,” Nuvama said.
The categorisation will come into effect from February 1, 2025.
However, the investors should know that the change in categorisation does not lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes.
Other new listings Waaree Engineering, Premiere Energies, Vishal Megamart and Ola Electric will make their way into the midcap category.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
