Mankind Pharma, TVS Motors to upgrade to large caps as AMFI H2CY23 list set to come into effect

AMFI Stock Categorisation: Jindal Steel and Power, Mankind Pharma, and TVS Motors will be upgraded from mid to large caps as the Association of Mutual Funds in India's list of stock categorisation for the second half of the year comes into effect on Tuesday, (August 1, 2023).

Among the banking sector midcaps that will be upgraded to large caps will be PNB, IDBI Bank, and Canara Bank.   

Jindal Stainless, Punjab & Sind Bank, RVNL, New India Insurance, and IIFL Finance will be small caps which will move up to midcaps.

The likes of cosmetics giant Nykaa, JSW Energy, Tata Elxsi, Indus Tower, and Info Edge will lose their large cap status as they will be downgraded to midcaps. 

The companies that will be downgraded from midcaps to smallcaps will be Piramal Pharma, Blue Dart, Trident, Emami, Dr. Lal, and Nippon Life.

Companies like Ikio Lighting, Avalon Tech, Divgi Torq Transfer, Radiant Cash, Global Surfaces, Sah Polymers, and Udayshivakumar Infra will make their entry into small caps.

Upgraded mid to largecaps

Jindal Steel and Power, PNB, IDBI Bank, Canara Bank, TVS Motors, Tube Investments, Mankind Pharma

Upgraded from small to midcaps

Punjab & Sind Bank, Carborundum Univ, Jindal Stainless, RVNL, New india assurance, Bharat Dynamics, IIFL Finance

Downgraded from large to midcaps 

Nykaa, JSW Energy, Tata Elxsi, Indus Tower, Page Industries, Macrotech Deve, Info Edge

Downgraded to smallcaps

Piramal Pharma, Tata Teleservices, Fin Organics, Nippon Life, Clean Science, Blue Dart, Trident, Dr Lal, Emami

New entrants in smallcaps 

Ikio Lighting, Avalon tech, Divgi Torq transfer, Radiant cash, Global surfaces, Sah polymers, Udayshivakumar infra

AMFI Stock Categorisation Standards:  

The cutoff of market cap to stay in the large cap range is Rs. 49,700 crore.

The market cap cutoff for staying in the mid cap range is Rs. 17,400 crore.

Out of the total market cap, the share of large caps has decreased from 69.4 per cent in the January review to 68.3% now.

The market cap for mid cap increased from 16 per cent to 16.6 per cent in the same period, while the share of small cap increased from 14.6 per cent to 5.1 per cent.

Almost all the new listings have made their way into the smallcap category.

But recently listed MANKIND Pharma got a direct entry into large cap.