Varun Beverages, ABB, Page Inds, Tata Elxsi tipped to be large-caps in AMFI list

Mumbai: Varun Beverages, ABB, Tata Elxsi, and Page Industries are likely to find a place in the large-cap category in the Association of Mutual Funds in India’s (AMFI‘s) semi-annual re-categorisation.

Timken, Metro Brands, Blue Dart Express, and Fine Organic are expected to enter the mid-cap category, according to Nuvama Alternative & Quantitative Research.

AMFI will officially announce the new list in the first week of January 2023, which will be valid from February to July 2023.

Piramal Enterprises, Gland Pharma, Mphasis, Muthoot Finance, and Bandhan Bank are expected to move from large-cap to mid-cap, according to Nuvama.

“The change in categorisation doesn’t lead to incremental inflows or outflow. However, the active mutual fund managers keep an eye on the list while taking fresh positions in stocks in a different category of schemes,” said Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research.

As per the Amfi, a large-cap stock is defined as 1-100 in rank based on the six months average market capitalisation, while 101-250 stocks are classified as midcaps.

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