Exclusive: AMFI to come out with stock reclassification list in July; find what could be likely changes

Zee Business Exclusive:  Association of Mutual Fund in India (AMFI) will come out with a list of stocks that will be reclassified into large cap, mid cap or small cap stocks from their category. The list is expected to be out in July and the new classification will be implemented from August. Zee Business Senior Research Analyst Varun Dubey brings this report.

Dubey said that the Life Insurance Corporation (LIC) is likely to get added in the large cap category according to several brokerages, Zee Business spoke to.

Stocks like Delhivery, Vedant Fashions and Motherson Sumi Wiring will likely be added to the mid-cap universe, he further said. 

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He, however said that the list of stocks that are likely to be included in the small cap category is long. Campus Activewear Ltd, Rainbow Childrens Medicare Ltd and Paradeep Phosphates Ltd are a few names that are likely to be included in this category.

Stocks, like HAL, Page Industries Ltd, Cholamandalam Financial Holdings Ltd, Bank of Baroda, and Bandhan Bank are seen shifting from mid cap to large-cap list. 

Stocks that are likely to move from large to mid-cap include Torrent Pharmaceuticals, IDBI Bank, HDFC AMC, Godrej Properties and Jubiliant FoodWorks, Varun said citing his sources.

Interestingly, the stocks that would be promoted from small to mid-cap include- Tata Tele, KPR Mills, Tanla Platforms and Phoenix Mills, Dubey said. 

The brokerage houses are suggesting 12-15 stocks that might migrate from middle to small-cap. Among them are Aptus Value Housing, IndiaMart, Happiest Minds and Gujarat State Petronet LtdGUJARAT (GSPL), he further said.