Association of Mutual Funds in India or AMFI undertake the reclassification exercise twice in a year. The reclassification is based on the market cap of companies over the previous six months. Zee Business Devanshi Asher has this detailed report.
Asher said that the top 100 stocks in the markets are classified as large cap stocks. The mid cap stocks comprise of stocks from 101 to 250 while the remaining stocks fall into the category of small cap stocks.
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The reclassification is done after averaging the market cap over the previous six months she said.
Stocks that were earlier under the mid cap category and have now moved to the large cap category on account of higher market cap include NMDC, Apollo Hospitals, Cholamandalam Finance, SAIL, Adani Total Gas, Bank of Baroda and Honeywell Automation.
Meanwhile, those large cap stocks which have seen a fall in their market cap and will now go to the mi cap segment include PI Industries, Petronet LNG, HPCL and Alkem Labs.
Meanwhile, there are also small cap stocks whose market cap have increased and are now shifted to the mid cap category. These stocks include Tata Elxsi, APL Apollo, Apollo Tyres, Bank of Maharashtra, Indian Bank, Alkyl Amines, Linde India, Affle, Blue Dart and Kajaria Ceramics.
There are stocks in the mid cap category whose market cap have come down and are now reclassified as small cap stocks. These include Metropolis, Prestige Estate, Mahanagar Gas, ITI Limited, CreditAccess Grameen, P&G Health, Central Bank of India and SJVN.
Meanwhile, there has been shifts in the stocks whose Initial Public Offerings (IPOs) have come recently. Some of the stocks which have entered the mid cap space include Macrotech Developers, Indigo Paints, IRFC and Sona BLW Precision.
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While companies like Shyam Metalics, Anupam Rasayan, Jubilant Ingrevia, Nazara Tech, Doodla Dairy, MTAR Technologies, Craftsman Automation, Easy Trip Planners, Kalyan Jewellers, Nureca, Heranba Industries, Barbeque Nation and Stove Kraft have been classified as small cap stocks.