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AMFI classification sees JSW Energy, Tata Elxsi, Nykaa slip to mid-cap

AMFI classification sees JSW Energy, Tata Elxsi, Nykaa slip to mid-cap
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AMFI rejig: IKIO Lighting, RVNL, Bank of Maharashtra shares among midcap contenders; JSPL, PNB may join largecap category

Punjab & Sindh Bank, Carborundum Universal, Bank of Maharashtra, FACT, Jindal Stainless, Rail Vilas Nigam, Bharat Dynamics and IIFL Finance may move from smallcap to midcap category

These 7 stocks, including 3 banks may be moved to largecap category by AMFI: Nuvama

The Association of Mutual Funds in India (AMFI) is set to release the results of its stock categorization review, with expected changes to the largecap, midcap, and smallcap categories. According to Nuvama Institutional Equities, seven stocks will be upgraded to the largecap category, including Punjab National Bank and Shriram Finance. Additionally, nine stocks are likely to be downgraded from smallcap to midcap, such as Punjab & Sind Bank and Bharat Dynamics. Nuvama also predicts the movement of eight stocks from largecap to midcap, and ten stocks from midcap to smallcap.

Strong investor flow lift-off puts mutual fund small-caps into orbit

Retail investors now own a bigger slice of small-cap companies than a couple of years earlier, attributable to their growing conviction in mutual fund (MF) schemes focused on this space. Data from Capitaline shows MFs average holding in the National Stock Exchange Nifty Smallcap 250 rising to 8.67 per cent, from 7.67 per cent in the past two financial years, with the number of companies with over 20 per cent MF holdings, rising from 15 to 24. At the end of May, the top five small-cap firms with the highest MF holdings were Carborundum Universal, Blue Star, Cyient, Gujarat State Petronet, and Cholamandalam Finance.

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