AMFI introduces seven new names to the large cap space

Adani Total Gas, NMDC, Appollo Hospitals, Cholamandalam Investment, SAIL, Bank of Baroda and Honeywell Automation have been elevated to the large-cap category in the latest stock reclassification announced by AMFI.

The continuous rally in equities meant that the cutoff for the large-cap and mid-cap categories were significantly higher this time. The cutoff for large-cap companies stood at Rs 37,746 crore compared to Rs 28,900 crore in January 2021. The cutoff to be a midcap company stood at Rs 11,820 crore as compared to Rs 8,389.68 crore in the previous reclassification.

The new entrants in the large-cap category have taken the place of PI Industries, HPCL, Indraprashtha Gas, Petronet, Alkem Laboratories, Hindustan Aeronautics and Abbott India, which have been downgraded from large-cap to mid-cap category.

Indian Railway Finance, Macrotech Developers, Sona BLW Precision Forgings and Indigo Paints are the new entrants of the mid-cap segment. These companies became public after the announcement of the previous classification in January.

Tata Elxsi, APL Apollo Tubes, Kajaria Ceramics, Bank of Maharashtra and Apollo Tyres are among the stocks that have been moved to the mid-cap space from the small-cap space.