Suzlon among 14 smallcap stocks that can get upgraded to midcap status next year
smallcap stocks including Suzlon Energy, Kalyan Jewellers, KEI Industries and the newly-listed JSW Infra can get upgraded to midcap status.
Calculations done by Nuvama show that the remaining 10 stocks waiting to enter the midcap universe are Mazagon Dock, Lloyds Metal, SJVN, CreditAccess Grameen, Emami, Exide Industries, Ajanta Pharma, Glenmark Pharma, Nippon Life and Fivestar Business.
Suzlon, the stock of which has rallied over 300% in the last 6 months, is also seen entering the MSCI India Standard Index in its quarterly review on 14th November.
Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics.
The mutual fund body will announce a reshuffle in the first week of January 2024 and will be applicable from February to July 2024.
«The change in categorization doesn’t lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes,» Nuvama said.
Stocks which can move from largecap to midcap are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Hero Motocorp and Samvardhana Motherson.
On the other hand, Nuvama sees IRFC, Power Fin Corp, Polycab Macrotech, Shriram Finance, Union Bank, Indian Overseas Bank, REC Ltd and Jio Financial getting largecap status.
AMFI categorises stocks on the basis of its 6-month average market capitalisation.
