Bandhan, Paytm and 4 other stocks downgraded to midcaps in Amfi rejig

January 4, 2023January 4, 2023 Bruce Langford

By The livemint

The Association of Mutual Funds of India (AMFI) has released the list of market capitalization classification for categorizing stocks into large, mid and small caps based on the six months average market capitalization i.e, from 1 July 2022 to 30 December 2022.

The classification will be the market cap benchmark for the first half of the current year (H1CY23).

Equity oriented schemes focused on market cap classification will have to re-align the schemes within the next one month.Following, it brokerages have come up with a report on the current positioning of the stocks across the different market capitalization.

Brokerage firm IIFL Securities, however, noted that the re-positioning will be purely discretion based.

Stocks downgraded from largecap to midcap category list included Muthoot Finance, Paytm’s parent company One 97 Communications, Bandhan Bank, Mphasis, Gland Pharma and

The demerged entity Piramal Pharma made its entry in the midcap categorization.

Stocks downgraded from midcap to smallcap category included Tanla Platforms, IEX, Godrej Industries, ICICI Securities, Aavas Financers, Chambal Fertilisers and Chemical, National Aluminum Co, and The New India Assurance Company.

The market cap cut off for the large cap stood at ₹48,900 crore; for the midcap category, the cut off came in at ₹16,800 crore.

“Of the Total MCap, Large cap stocks (Top 100) attributed 69.4% vs 69.2% (July Review), Mid cap (101-250) attribute 16% vs 16.5% (July Review), Small cap (251 and beyond) attribute 14.6% vs 14.3% (July Review),” highlighted brokerage Edelweiss.

Varun Beverages, ABB India, Page Industries, Tata Elxsi, Bosch, Trent, PI Industries are the midcap stocks that have been upgraded to largecap stocks under the AMFI classification.

By The livemint

insidesmarket.com

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