The Association of Mutual Fund in India (Amfi) has reclassified a list of stocks including state-owned and private companies as large caps due to continuous record level rally in Indian markets. These companies are - NMDC,
Apollo Hospitals, Cholamandalam Investment and Finance, SAIL, Bank of Baroda, Honeywell Automation and
Adani Total Gas.
These mentioned companies have moved from midcaps space to large caps. They have replaced stocks such as PI Industries, HPCL, Indraprastha Gas, Petronet LNG, Hindustan Aeronautics and Abbott India.
AMFI stated that the cutoff market cap for becoming a large-cap is Rs37,746.26cr against the cap of Rs28,900.31cr as of January. Meanwhile, the cutoff in market cap to become a midcap company is Rs11,820.07cr as compared with Rs8,389.68cr.
On Sensex, at around 2.21 PM, NMDC was trading at Rs167.85 per piece down by 1.06%. Bank of Baroda was performing at Rs85.80 per piece up by 0.4%, while Honeywell Automation was performing at Rs41599 per piece lower by Rs137 or 0.3%. Apollo Hospitals traded at Rs3716.05 per piece up 0.23%.
Meanwhile, SAIL was performing at Rs127.75 per piece up 3.8%, while Adani Total Gas performed at Rs891 per piece down by 3%. Chola Finance traded at Rs517.75 per piece down by 0.7%.
As per AMFI, in the last six months, there has been a lot of movement in broader markets as they have been in the spotlight.
A total of 15 stocks from midcap space moved to smallcap category. On the other hand, 11 stocks from smallcap moved to midcap.