Rail Vikas Nigam, ICICI Pru, Polycab among stocks likely to get AMFI large-cap tag
Rail Vikas Nigam, ICICI Prudential, Polycab India, Cummins India and Indus Towers are likely to be categorised as large caps by the Association of Mutual Funds in India (AMFI) in its semi-annual classification of stocks, according to a report by Nuvama Institutional Equities.
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AMFI announces reclassification of shares twice a year. The next round is scheduled for the first week of January and will take effect from February 1, 2025.
Mutual fund managers must consult the AMFI classification to balance their portfolio according to the category requirement. Recategorisation need not lead to fresh inflows or outflows. Active equity fund manager do not need to change the stock weights in their respective portfolios to match the AMFI share categories.
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Hyundai Motors, Bajaj Housing Finance, NTPC Green and Swiggy are expected to be the new entrants in the large-cap category, said Nuvama. The brokerage said Adani Total Gas, IDBI Bank, Jindal Steel & Power, BHEL and NHPC, among others, could move from the large-cap category to mid-cap.
«Fuelled by the current market momentum, we now anticipate the AMFI large-cap cut-off to surge to ₹1 trillion (up from ₹840 billion in June
