Nykaa, IRCTC, Zomato, Policybazaar shares may become ‘largecap’ in AMFI semi-annual rejig; check full list

AMFI releases a semi-annual list of large caps, midcaps, and smallcap stocks, which is followed by mutual fund managers when reclassifying their portfolio.
(Image: REUTERS)

Newly listed internet giants such as Nykaa, Policybazaar, and Zomato could be among stocks that may be classified as large-caps in the next AMFI (Association of Mutual Funds in India) semi-annual rejig. Domestic brokerage and research firm Edelweiss believes these three stocks along with IRCTC, MindTree, Tata Power, and four others could become large caps soon while it believes Yes Bank, Punjab National Bank, Lupin, and 7 other stocks could be downgraded to midcaps. AMFI releases a semi-annual list of large caps, midcaps, and smallcap stocks, which is followed by mutual fund managers when rebalancing their portfolio.

Midcap to Large Cap

MindTree – current market cap Rs 81,761 crore
SRF Ltd – current market cap Rs 64,914 crore
Mphasis – current market cap Rs 64,637 crore
IRCTC – current market cap Rs 73,380 crore
Godrej Properties – current market cap Rs 64,529 crore
Tata Power – current market cap Rs 78,573 crore
PI Industries – current market cap Rs 44,113 crore
Zomato – current market cap Rs 1.25 lakh crore
Nykaa – current market cap Rs 1.07 lakh crore
PB Fintech (Policybazaar) – current market cap Rs 61,309 crore

Large Cap to Midcap 

Yes Bank – current market cap Rs 32,872 crore
Honeywell Automation – current market cap Rs 37,544 crore
Bank Of Baroda – current market cap Rs 51,118 crore
Biocon – current market cap Rs 43,833 crore
Punjab National Bank – current market cap Rs 45,640 crore
Procter & Gamble Hygiene – current market cap Rs 8,532 crore
Colgate-Palmolive – current market cap Rs 41,283 crore
Cholamandalam Investment and Finance – current market cap Rs 13,142 crore
Lupin Ltd – current market cap Rs 42,508 crore
NMDC – current market cap Rs 41,189 crore

Smallcaps to Midcaps

Happiest Minds Technologies
Central Bank of India
Gujarat Fluorochemicals
National Aluminum
Indian Energy Exchange
Prestige Estates Projects

It is important to note that reclassification of stocks does not result in immediate fund inflows. However, recategorization does help stocks. “Yes, the recategorization helps but not necessarily immediately in terms of flows. As the stocks move up from the lower categorization to higher (eg- Small-cap to Midcap), it leads to more visibility for stocks and thus the fund managers can look to further analyze the names and add as per their rational and scheme mandate,” Edelweiss said.

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