Swiggy, RVNL, NTPC Green among 11 midcap stocks likely to be upgraded to largecap space in AMFI rejig

Swiggy, Rail Vikas Nigam Ltd (RVNL), NTPC Green Energy and Bajaj Housing Finance shares are among 11 mid-cap stocks that are expected to move into the large-cap segment in the upcoming semi-annual categorisation by the Association of Mutual Funds in India (AMFI).

The cut-off period spans from July 1, 2024, to December 31, 2024, with the announcement expected in the first week of January 2025. The categorisation will take effect from February 1, 2025.

Nuvama Alternative & Quantitative Research anticipates the AMFI large-cap cut-off to surge to ₹1 lakh crore, up from ₹84,000 crore in June 2024, while the mid-cap threshold is expected to soar to ₹32,800 crore as against ₹27,500 crore in June 2024.

Largecap Entrants

Around 11 stocks are potential large-cap entrants from current mid-cap space, including CG Power and Industrial Solutions, Rail Vikas Nigam Ltd (RVNL), ICICI Prudential Life Insurance Company, Polycab India, Cummins India and Info Edge (India).

Additionally, the recently listed Hyundai Motor India, Bajaj Housing Finance, NTPC Green India and Swiggy are also expected to be upgraded to the large-cap segment in the upcoming AMFI rejig.

Eleven stocks are likely to be downgraded from largecap to midcap. These are Adani Total Gas, NHPC, IDBI Bank, Shree Cements, Union Bank of India, Bharat Heavy Electricals, Canara Bank, Jindal Steel & Power, IndusInd Bank, Mankind Pharma and Apollo Hospitals Enterprises.

Midcap Entrants

Eight stocks are likely to be upgraded to the midcap space. These potential midcap entrants include GE T&D India, 360 One WAM, Kaynes Technology India, Aditya Birla Fashion and Retail, Waaree Energies, Premier Energies, Vishal Mega Mart and Ola Electric Mobility.

On the other hand, stocks which can move from midcap to smallcap are ITI, ZF Commercial Vehicle Control Systems India, Delhivery, Poonawalla Fincorp, Hindustan Copper, Motherson Sumi Wiring, Global Health, Gland Pharma, Bandhan Bank, Mangalore Refinery Petrochemicals, Go Digit General Insurance and Star Health and Allied Insurance Company.

Smallcap Entrants

Stocks that are expected to move into the small-cap category include Brainbees Solutions, Emcure Pharmaceuticals, Sagility India, Afcons Infrastructure, One Mobikwik Systems, ECOS Mobility, Sai Life Sciences, Zinka Logistics, PN Gadgil Jewellers, and Ceigall India among others.

It is to be noted that the change in categorization does not lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh or modifying positions in stocks in different categories of schemes.

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