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New listings LIC, Adani Wilmar get AMFI’s ‘large-cap’ tag

Informist, Tuesday, Jul 5, 2022 


MUMBAI – New listings Life Insurance Corp of India and Adani Wilmar have received the ‘large-cap’ tag, according to the methodology for market capitalisation-based categorisation of listed companies by the Association of Mutual Funds in India. 


Adani Power, Cholamandalam Investment and Finance Co, Bank of Baroda, Hindustan Aeronautics Ltd, and Bandhan Bank have been upgraded to ‘large-cap’ from ‘mid-cap’ category, data showed.


The revised list of large-, mid-, and small-cap stocks will be effective from July to December. The next one will be due in January.


According to an October 2017 circular by the Securities and Exchange Board of India on restructuring mutual fund schemes to avoid duplication and rationalise stock holding, the industry body has been mandated to review the list of large-, mid-, and small-cap stocks based on the six-month average market capitalisation, among other criteria.


According to AMFI, the large-cap category consists of the top 100 listed companies in terms of full market capitalisation, while the mid-cap category comprises the 101st to the 250th company, and the rest of the companies fall under the small-cap category.


According to AMFI’s new list, the cut-off for large-cap category is 474.6 bln rupees, and the cut-off for mid-cap is 164.4 bln rupees. 


SKF India, The Phoenix Mills, Tanla platforms, K.P.R. Mill, Poonawalla Fincorp, and Chambal Fertilisers and Chemicals have been upgraded to ‘mid-cap’ category from ‘small-cap’.


IDBI Bank, HDFC Asset Management Co, PB Fintech, Zydus Lifesciences, Jubilant Foodworks, Godrej Properties, and Steel Authority of India have been downgraded to ‘mid-cap’ from ‘large-cap’.     


Aditya Birla Sun Life AMC, UCO Bank, Nuvoco Vistas Corp, Natco Pharma, G R Infraprojects, Indiamart Intermesh, Happiest Minds, Ajanta Pharma, and Sanofi India have been downgraded to ‘small-cap’ from ‘mid-cap’ category.


AGS Transact Technologies, UMA Exports, Veranda Learning Solutions, Hariom Pipe Industries, Campus Activewear, Rainbow Children’s Medicare, Prudent Corporate advisory, Venus Pipes and Tubes, Paradeep Phosphates, and Ethos have debuted in the ‘small-cap’ space. 




Reported by Ajay Ramanathan

Edited by Vidhi Verma


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Source: Cogencis

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