| Company | Value | Change | %Change |
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Other seven other companies which has been classified as “largecap” companies from their earlier classification of “midcap” include Rail Vikas Nigam, CG Power, ICICI Prudential, Polycab India, Indus Towers, Cummins India, and Info Edge.
On the other hand, stocks like 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 have been downgraded to the “Midcap” category from their earlier classification of “largecap.”
As many as nine stocks including Waaree Energies, Premier Energies, Vishal Mega Mart, Ola Electric Mobility, Inventurus Knowledge Solutions IKS, GE T&D India, 360 One WAM, Kaynes Tech., and Aditya Birla Fash have been categorised as “Midcap” stocks from the earlier “Smallcap” classification.
Other stocks like ITI (Indian Teleph.Ind.Ltd), ZF Commercial, Delhivery, Poonawalla Fin., Hindustan Copper, Motherson Sumi Wiring India, Global Health, Gland Pharma, Bandhan Bank, Mangalore Refi., Go Digit General Insurance, Star Health and Allied Insurance, and Apollo Tyres have been downgraded from the “Midcap” category to the “Smallcap” category.
According to brokerage firm Nuvama Alternative & Quantitative Research, the current market momentum may result in the cut-off for a “largecap” stock to be ₹1 lakh crore from ₹84,000 crore in June, while the “Midcap” threshold” may surge to ₹33,200 crore, up from ₹27,500 crore in June 2024.
Nuvama also said that the change in categorisation will not necessarily result in incremental inflows and outflows.
“Active equity fund managers may choose to add / remove, increase / reduce weightage in the stocks from their respective portfolio, depending upon the fundamental, non-quantitative rationale,” the Nuvama note said.
