AMFI rejig: Suzlon Energy, Mazagon Dock, Kalyan Jewellers shares enter midcap category; IRFC, IOB, PFC are largecaps now

AMFI on Thursday unveiled its updated market categorisation list for H1CY24, which will be effective from February to July 2024. Suzlon Energy Ltd, Mazagon Dock Shipbuilders Ltd, SJVN Ltd, Kalyan Jewellers Ltd, Exide Industries Ltd and Glenmark Pharma are some of the smallcap shares that have now been categorised as midcaps. IREDA Ltd, Tata Technologies Ltd and JSW Infrastructure Ltd are new entries to the midcap category.

Shares of Power Finance Corporation Ltd (PFC), IRFC, Macrotech Developers Ltd (Lodha), Polycab India Ltd and REC Ltd are some of the stocks that have been upgraded to the largecap category.

RR Kabel Ltd, Cello World Ltd, Honasa Consumer, Concord Biotech, Nuvama Wealth, Happy Forgings, SignatureGlobal, SBFC Finance, TVS Supply, Inox India Ltd, and Doms Industries are among new entries to the smallcap category.

"The large-cap threshold now stands at Rs 67,000 crore, up from Rs 49,700 crore in June 2023. Meanwhile, the midcap cut off has risen to Rs 22,000 crore, compared to Rs 17,400 crore previously. Breaking down the total market cap: Large caps (Top 100) now represent 64.4 per cent, down from June's 68.3per cent. Mid caps (101-250) account for 17.8 per cent, an uptick from 16.6 per cent in the June review," Nuvama Institutional Equities said in a note.

Meanwhile, smallcaps (251 and beyond) now make up 17.8 per cent of market capitalisation, a significant increase from June's 15.1 per cent, Nuvama suggested. UPL Ltd, Adani Wilmar Ltd, PI Industries Ltd, IRCTC Ltd, Bosch Ltd, Tue Investments, Hero MotoCorp Ltd and Samvardhana Motherson International Ltd are downgraded from largecap to midcap category.

Rajesh Exports, Whirlpool India, Atul, Laurus Labs, Bharat Dynamics, Bata India, Kajaria Ceramics, Vinati Organics, Pfizer and Aarti Industries are some of the stocks that have been downgraded to smallcap from midcap categories.

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