AMFI stock reshuffle: Jio Financial gets large-cap tag, Tata Tech moves to mid-cap; check stock movements in mutual fund

After a reorganization orchestrated by the Association of Mutual Funds in India (AMFI), Jio Financial has ascended to the large-cap segment, while three newcomers—Tata Tech, JSW Infra, and IREDA—have made their debut in the mid-cap category.

The large-cap threshold has been elevated to  ₹67,000 crore, a significant increase from its previous level of  ₹49,700 crore as of June 2023, according to a report by Nuvama Institutional Equities. Likewise, the mid-cap cut-off has seen an uptick to  ₹22,000 crore, surpassing the earlier mark of  ₹17,400 crore.

Also read: Jio Financial Services: KR Choksey advises buying the stock, sees 24% upside – 3 key reasons behind the bullish stance

Here are the stocks that have moved upwards —

Stocks raised to large-cap from mid-cap

Jio Financial has recently joined the large-cap category. Among the notable transitions from mid-cap to large-cap status, the following eight stocks have been promoted: Power Finance Corporation, IRFC, Macrotech Developers, Polycab India, REC, Shriram Finance, Union Bank, and IOB.

Stocks moved from small-cap to mid-cap

The stocks that have transitioned from the small-cap to mid-cap category include Mazagon Dock, Suzlon Energy, Lloyds Metals, SJVN, Kalyan Jewellers, KEI Industries, Credit Access Grameen, Exide Industries, Nippon Life, Ajanta Pharma, Narayana Hrudaya, and Glenmark Pharma.

Also read: Mauritius-based FII buys stake in this multibagger stock; shares hit upper circuit

Here are the stocks that have moved downwards —

Stocks degraded from large-cap to mid-cap

The stocks that have moved downwards from large-cap to mid-cap category are Hero Motocorp Limited, Samvardhana Motherson International Limited, Tube Investments Of India Limited, Bosch Limited, Indian Railway Catering & Tourism Corporation Limited, PI Industries Limited, Adani Wilmar Limited and UPL Limited.

Stocks degraded from mid-cap to small-cap

The stocks that have moved downwards from mid-cap to small-cap category includes Carborundum Universal Limited, Kajaria Ceramics Limited, Bata India Limited, Bharat Dynamics Limited, Aditya Birla Fashion And Retail Limited, Laurus Labs Limited, Sumitomo Chemical India Limited, Navin Fluorine International Limited, Atul Limited, Whirlpool Of India Ltd, Crompton Greaves Consumer Electricals Limited, Vinati Organics Limited, Aarti Industries Limited, Pfizer Limited and Rajesh Exports Limited. 

Also read: ONGC share price gains 3%, scales 52-week highs: among top Nifty-50 gainers on firm earnings outlook.

According to the ICRA report, there were around 108 new companies that have been added to the list. R R Kabel Limited, Cello World Limited, Honasa Consumer Limited, Concord Biotech Limited are some of the new entrants in the small-cap category.

"The AMFI stock categorisation list is mainly referred to by active equity mutual fund managers. Re Categorisation helps but not necessarily immediately in terms of flows. As the stocks move up from lower categorisation to higher, say smallcap to midcap and midcap to large cap, it increases their visibility," said Abhilash Pagaria, Head, Nuvama Alternative & Quantitative Research.:  re