The threshold for stocks to be classified as large-cap is anticipated to increase to Rs 1 lakh crore, based on their average six-month market capitalisation, from to Rs 91,600 crore, in the semi-annual categorisation by the Association of Mutual Funds in India (Amfi), a report by Nuvama Institutional Equities said on Tuesday. The mid-cap threshold may be raised to around Rs 33,400 crore, compared with Rs 30,700 crore in the June categorisation.
The announcement is likely to be in January and will be implemented from February 2026
The announcement from Amfi is expected in the first week of January and the categorisation will take effect from February, 2026. Consequently, the report said, HDFC Asset Management Company, Bosch, Muthoot Finance and Cummins India will be the potential large-cap entrants. Polycab India, Dixon Technologies (India), Swiggy and Canara Bank are borderline candidates.
The official list will serve as a reference for active domestic fund managers while taking fresh/modifying position in stocks in different categories of schemes.
List of stocks that can move from large-cap to mid-cap
The stocks which can move from large-cap to mid-cap are Info Edge(India), Lupin, Bajaj Housing Finance and Indus Towers. New entrants in this category will be Endurance Technologies, Cohance Lifesciences, HDB Financial Services and Anthem Biosciences.
According to Nuvama Tata Investment Corporation, Sona Blw Precision Forgings, Aia Engineering and Gujarat Gas can move from the mid-cap to the small-cap category.
A circular released by Sebi in October 2017 mandates listed stocks to be categorised into baskets with a well-defined classification of large-cap, mid-cap and small-cap to ensure a uniformity in the investment universe for equity mutual fund schemes.