Paytm, Zomato, Nykaa, PB Fintech could be among the recently listed companies to enter the large-cap category in the upcoming semi-annual review by AMFI (Association of Mutual Funds India). Edelweiss Alternative Research believes the new age technology companies that listed in recent months could take their place as large caps in the AMFI review that is expected to be announced in the first week of January. Other stocks that Edelweiss expects to get the largecap tag include MindTree, IRCTC, SRF, and Tata Power among others. AMFI considers December 31 as the market cap cut-off date for changes.
New-age companies that may get large-cap tag
Zomato – current market capitalization Rs 1,04,532 crore
FSN Ecommerce Ventures (NYKAA) – current market capitalization Rs 1,01,830 crore
One 97 Communications (Paytm) – current market capitalization Rs 87,640 crore
PB Fintech (Policy Bazaar) – current market capitalization Rs 43,249 crore
Mid-cap to large-cap
Mindtree – current market capitalization Rs 76,931 crore
SRF – current market capitalization Rs 71,141 crore
IRCTC – current market capitalization Rs 70,320 crore
Tata Power – current market capitalization Rs 70,936 crore
Mphasis – current market capitalization Rs 62,456 crore
Godrej Properties – current market capitalization Rs 52,789 crore
Bharat Electronics – current market capitalization Rs 50,437 crire
Large-cap to mid-cap
Yes Bank – current market capitalization Rs 33,824 crore
Honeywell Automation – current market capitalization Rs 35,938 crore
Punjab National Bank – current market capitalization Rs 41,346 crore
Biocon – current market capitalization Rs 42,639 crore
Colgate-Palmolive – current market capitalization Rs 39,772 crore
Bank of Baroda – current market capitalization Rs 41,759 crore
Lupin – current market capitalization Rs 41,754 crore
New Entries to Mid-cap
Star Health and Allied Insurance
Clean Science and Technology
Nuvoco Vistas Corporation
Aditya Birla Sun Life AMC
G R Infraprojects
Aptus Value Housing Finance
Devyani International
Small-cap to mid-cap
Happiest Minds Technologies – current market capitalization Rs 19,280 crore
Central Bank – current market capitalization Rs 18,750 crore
Gujrat Fluorochemicals – current market capitalization Rs 26,159 crore
National Aluminium – current market capitalization Rs 18,366 crore
Indian Energy Exchange – current market capitalization Rs 22,844 crore
Prestige Estate Projects – current market capitalization Rs 19,369 crore
Trident – current market capitalization Rs 28,002 crore
AMFI’s stock classification list is mainly referred to by active equity mutual fund managers. It is important to note that recategorization of stocks does not necessarily lead to fresh inflows. The move, however, does help stocks. “The recategorization helps but not necessarily immediately in term of flows. As the stocks move up from the lower categorization to higher, it leads to more visibility for stocks and thus the fund managers can look to further analyse the names and add as per their rational and scheme mandate,” Edelweiss said.
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