AMFI updates large, mid, and small-cap stock lists in July 2026: Which stocks climbed the ladder and which fell?

AMFI's latest market-cap categorisation, based on the average market capitalisation of listed companies during January–June 2026, has resulted in several changes across the large, mid and small-cap universe.

The revised classification is significant because mutual fund schemes are required to invest according to AMFI's categorisation while defining their investment universe.

Large-cap cutoff inches higher

According to Mata Securities, the market-cap thresholds have largely remained elevated despite moderation in average market capitalisation across segments.

“The large-cap cutoff has edged up to approximately ₹1,06,300 crore from ₹1,05,000 crore in January 2026. In contrast, the mid-cap cutoff has moderated slightly to around ₹33,500 crore from ₹34,700 crore,” Mata Securities said in a report.

Average market capitalisation softens

Mata Securities also highlighted that average market capitalisation declined across all three segments in the latest review.

“The average large-cap market cap eased to ₹2,75,198 crore from ₹2,78,505 crore, while mid-caps moderated to ₹62,454 crore from ₹62,919 crore. The sharpest moderation was seen in small caps, where the category average fell to ₹1,806 crore from ₹1,889 crore,” the report noted.

Stocks upgraded in AMFI's market-cap review

The latest AMFI review saw several companies move up the market-cap ladder during the January–June 2026 period.

Upgraded from Small-cap to Mid-cap

Hindustan Copper, NLC India, and AIA Engineering are among the prominent stocks that have moved into the mid-cap category.

Upgraded from Mid-cap to Large-cap

BSE, Vodafone Idea, and Hitachi Energy India have entered the large-cap universe.

Stocks downgraded in AMFI's market-cap review

The review also witnessed several companies move to lower market-cap categories.

Downgraded from Large-cap to Mid-cap

Bosch, Siemens Energy India, and Hero MotoCorp have slipped to the mid-cap from the large-cap category.

Downgraded from Mid-cap to Small-cap

Tata Investment Corporation, Hexaware Technologies, and KPR Mill are among the companies that have moved into the small-cap segment.

Disclaimer: This is purely for educational/ informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.