These 7 stocks made it to the large cap universe

AMFI has released a list of stocks based on their market capitalization in which it has included 7 new companies in the large cap universe.

Recently listed Mankind Pharma made its way to the large cap space according to the average market capitalization as on June 30, 2023.  Interestingly, the large cap universe also welcomed six mid cap stocks - Canara Bank, IDBI Bank, Jindal Steel & Power, Punjab National Bank, Tube Investments of India and TVS Motor Company.

These newly identified large cap stocks have replaced FSN E-Commerce Ventures, Indus Towers, Info Edge(India), JSW Energy, Macrotech Developers, Page Industries, and Tata Elxsi, which now fall under the mid-cap category.

AMFI data shows that the mid-cap and small-cap universes also underwent changes.

Nine small cap companies have been promoted to the mid cap companies - Bank of Maharashtra, Bharat Dynamics, Carborundum Universal, Fertilizers and Chemicals Travancore, IIFL Finance, Jindal Stainless, Punjab & Sind Bank, Rail Vikas Nigam and The New India Assurance Company.

From the MF industry, Nippon India Life AMC has now moved from mid cap company to small cap company.

Please note that the large cap space comprises top 100 companies in terms of full market capitalization. Likewise, companies ranking 101^st to 250^th are mid cap and those ranked 251^st and onwards are classified as small cap companies.

AMFI releases a list of stocks every six months in consultation with SEBI and stock exchanges (NSE and BSE). Thereafter, fund houses rebalance their portfolios according to the revised classifications.

In the latest June 2023 list, AMFI published 5,063 stocks as against 5,072 stocks in the December 2022 list.

Here are the key changes observed between December 2022 and June 2023 lists. Also, to view the entire list of stocks click here.