Amfi stock classification: BHEL, 6 more stocks to become largecaps in H2CY2024. Check m-cap cut-off
market capitalisation cut-off for a stock to make it to the largecap category in the upcoming Amfi semi-annual categorisation is expected to be Rs 84,000 crore compared to an average of Rs 67,000 crore in the six months ending December 2023, Nuvama said in a note.
Meanwhile, the midcap threshold is likely to hover around Rs 27,500 crore this time compared to Rs 22,000 crore at the end of December 2023.
Based on the average market capitalisation for the period spanning between January 1 and June 30, 2024, seven stocks are expected to make a cut into the largecap category. Among them are two-wheeler major Hero MotoCorp, state-run Bharat Heavy Electricals (BHEL) and NHPC. The other stocks which are expected to enter the club are Zydus Lifesciences, JSW Energy, Bosch and Cummins India.
Bosch is on a borderline, Nuvama report said.
The definitions of largecap, midcap and smallcap stocks are based on the average of full mcap reviewed on a half yearly basis by AMFI. The first 100 companies are categorised as lagecaps, while midcaps are companies occupying spots between 101 and 250. The remaining are clubbed in the smallcap category.
The semi-annual categorisation will come into effect from August 1, Nuvama said.
The current market capitalisation of all these seven stocks is above Rs 1 lakh crore and they have rallied between 242% and 79% over the past 12 months. State-run BHEL and NHPC have been multibaggers with returns of 242% and 120%, respectively. JSW Energy and Cummins India have yielded 158% and 112%,
