The Association of Mutual Funds in India (AMFI) has released its semi-annual market cap-based classification of stocks, which will be valid for the first half of 2023.

This time, the cut-off for the top 1-100 companies has come in at close to Rs 48,900 crore. From 101 to 250, which comprises the midcap space, the cut-off has been close to Rs 16,800 crore and the remaining would fall under the small cap category.

Which are the stocks that are impacted and which are the stocks that have been upgraded from midcap space to large cap space?

The names are Varun Beverages ABB India, Tata Elxsi, Bosch, Trent as well as PI Industries.

On the other hand, the stocks that have seen a downgrade in terms of classification from largecap space to smallcap space include Muthoot Finance, Paytm, Bandhan Bank, Mphasis, Gland Pharma and Piramal Enterprises.

The stocks upgraded from small cap space to midcap include Timken, Metro Brands, Blue Dart, Fine Organic, Uco Bank. One interesting name of a demerged entity in this category is Piramal Pharma that has made a fresh entry into the midcap categorisation.

On the other hand, stocks downgraded from the midcap to small cap space include Aavas, Financiers and ICICI Securities.

All of the new listings made the entrance into the small cap space.

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Why is this particular development important? Most of this list is mainly referred to by active fund managers and there could be entries, exits, weight reductions and weight additions based on the scheme categorisation. On the back of this, all of these stocks will definitely be in focus.

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(Edited by : Pradeep John)