Internet companies such as Zomato, Nykaa owner FSN E-Commerce Venture, Paytm owner One97 Communication, Policybazaar owner PB Fintech and nine other stocks have been promoted to large-cap from mid-cap category, according to Edelweiss’ report. Other stocks include IRCTC (Indian Railway Catering and Tourism Corporation), Mindtree, SRF, Tata Power, Mphasis, Godrej Properties, Macrotech Developers, Bharat Electronics and JSW Energy have also been reclassified as large-cap by the Association of Mutual funds in India (Amfi). This will be effective from February to July 2022.
Edelweiss Alternative Research report noted 20 stocks that have been downgraded to midcap from largecap. The list includes Bandhan Bank, Bosch, Cholamandalam Invest and Fin, P&G Hygiene & Health Care, Aurobindo Pharma, NMDC, Lupin, Bank of Baroda, Biocon, Colgate-Palmolive India, Punjab National Bank, Honeywell Automation India, Yes Bank, Star Health and Allied Insurance, Clean Science and Technology, Nuvoco Vistas Corp, Aditya Birla Sun Life AMC, GR Infraprojects, Aptus Value Housing Finance India and Devyani International stocks.
While stocks such as Gujarat Fluorochemicals, Happiest Minds Technologies, Central Bank of India, Indian Energy Exchange, National Aluminium Co, Trident, Prestige Estates Projects, Grindwell Norton and CG Power and Industrial Solutions have been promoted to mid cap from small cap category.
The brokerage firm also downgraded 20 stocks to small cap from mid cap category. The stocks include The Phoenix Mills, Alembic Pharma, Manappuram Finance, Glenmark Pharmaceuticals, Exide Industries, Blue Dart Express, Wabco India, Apollo Tyres, Zydus Wellness, Bank of Maharashtra, Castrol India, Affle India, Suven Pharma, Indigo Paints, City Union Bank, RBL Bank, Vaibhav Global, Jubilant Pharmova, Dhani Services, and Amara Raja Batteries.
Edelweiss Alternative Research also noted that 32 newly-listed stocks were also included in small-cap category, which includes Sapphire Foods, Go Fashion, Ami Organics, RateGain Travel Tech, Supriya Lifescience, Metro Brands, Chemplast Sanmar, CE Info Systems, Glenmark Life Science, MedPlus Health Services, Latent View Analytics, India Pesticides, CMS Info Systems, Fino Payments Bank, Rolex Rings, Paras Defence and Space Technologies, Anand Rathi Wealth, and Shriram Properties among others.