Tata Tech could win midcap tag, Jio Financial largecap in upcoming AMFI rejig
Apart from Jio Financial, Power Finance Corporation, Indian Railway Finance Corporation, Macrotech Developers, Polycab India, REC, Shriram Finance, Union Bank of India, and Indian Overseas Bank are the others that may enter into the largecap category, according
to Nuvama.
The official changes will be announced by AMFI in the first week of January 2024, and they will be applicable for the February-to-July period.
The AMFI stock categorization list is mainly referred to by active equity fund managers.
As of July, the large-cap market cap cutoff stood at Rs 497 billion, and the mid-cap cutoff was Rs 174 billion.
However, Nuvama’s latest calculations indicate that the largecap market-cap cutoff has increased to Rs 667 billion, and the midcap cutoff has gone up to Rs 219 billion.
Potential Midcap Candidates
Nuvama sees potential for 14 stocks to enter into the midcap category of AMFI in February, and this includes Dalal Street’s newest hero Tata Technologies.
Apart from Tata Tech, Mazagon Dock Shipbuilders, Suzlon Energy, Lloyds Metal, SJVN, Kalyan Jewellers, KEI Industries, CreditAccess Grameen, Exide Industries, Ajanta Pharma, Nippon Life India Asset Management, Narayana Hrudayalaya, Emami, and, JSW Infrastructure may enter the midcap category.
Largecap to Midcap
Stocks which can move from the largecap to midcap category according to Nuvama are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Samvardhana Motherson, and Nifty 50 major Hero MotoCorp.
Midcap to Smallcap
The stocks which can be shifted from the midcap to smallcap based on Nuvama’s analysis are Rajesh Exports, Pfizer, Aarti Industries, Vinati Organics, Crompton Greaves Consumer Electricals, Whirlpool of India, Atul Ltd, Navin Fluorine
