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The fresh listing which directly entered large cap category are Life Insurance Corporation of India (LIC) and Adani Wilmer, according to the Association of Mutual Funds in India’s (AMFI) latest stock categorisation.

Shares of edible oil producer Adani Wilmar, part of the Gautam Adani-led Adani Group conglomerate, has given multibagger return of more than 118% since its stock market debut. Whereas, state-run insurance giant LIC shares have declined about 20%, falling sharply since its listing on the stock exchanges on May 17, 2022.

The list is prepared on half yearly basis, and the current list will be valid for August 2022 to January 2023 period. The market cap cut off for the Large cap is at 475 bn whereas the midcap cut off came at 164 bn. 

Edelweiss Alternative & Quantitative Research, had released a pre-emptive analysis of changes in stock categorization in May and the official announcement by AMFI is in-line with the brokerage and research firm's predictions.

The fresh listings which directly got added in midcap cap category in the AMFI list are Vedant Fashions and Delhivery. Whereas, Motherson Sumi Wiring got demerged from parent Motherson Sumi Systems Ltd.

All the remaining fresh listing have debuted under small cap category are AGS Transact Technologies, UMA Exports, Veranda Learning, Hariom Pipes, Campus Activewear, Rainbow Children’s Medicare, Prudent Corp. Ad., Venus Pipes, Paradeep Phosphates, and Ethos Ltd in the review.

All the remaining fresh listing have debuted under small cap category are AGS Transact Technologies, UMA Exports, Veranda Learning, Hariom Pipes, Campus Activewear, Rainbow Children’s Medicare, Prudent Corporate Advisory, Venus Pipes, Paradeep Phos., and Ethos Ltd.

As per market regulator Securities and Exchange Board of India (SEBI), the listed stocks must be strictly categorized into baskets with a well-defined classification of largecap, midcap and smallcap stocks. This is to ensure uniformity in respect of the investment universe for equity mutual fund schemes.

Further, SEBI has also stipulated that AMFI shall prepare the list of stocks in this regard. Accordingly, AMFI in consultation with SEBI and stock exchanges, prepares the list of stocks with categorization based on the market capitalization provided by BSE, NSE and MSEI.

 

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