While the official list will serve as the reference framework for active domestic fund managers, all eyes will be on the four newly listed stocks of the Vedanta group — Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel.
According to Nuvama Alternative & Quantitative Research, based on current market caps, Vedanta Aluminium (₹184,222 Cr) will be classified as the large cap.
Other than Vedanta Aluminium, the potential largecap entrants include: BSE, Vodafone Idea, Hitachi Energy India, Jindal Steel, Indian Bank, Indus Towers, Billionbrains Garage Ventures (Groww), and BHEL.
Hindustan Copper, NLC India, AIA Engineering, Ajanta Pharma, Aster DM Healthcare, and Sona BLW Precision Forgings could be upgraded to the midcap category in the upcoming AMFI semi-annual categorisation review, according to Nuvama.
The brokerage expects BCCL, Fractal Analytics, CMPDI, Clean Max Enviro, Shadowfax Tech, Amagi Media Labs, Sedemac Mechatronics, Powerica, Kwality Wall’s, Omnitech Engineering, OnEMI Technology Solutions, Aye Finance, Sai Parenteral, GSP Crop Science, Amir Chand Jagdish, PNGS Reva Diamond Jewellery, Rajputana Stainless, Innovision, Gaudium IVF and Women Health, Om Power Transmission, Shree Ram Twistex, CMR Green Tech, Hexagon Nutrition, and Shree RamTwistex.
Meanwhile, Lodha Developers, Indian Hotels, Mazagon Dock Shipbuilders, Max Healthcare, LG Electronics, Dr Reddy’s, Siemens Energy India, Bosch, and Hero MotoCorp could move from the largecap to midcap category. Similarly, Kaynes Technology India, SJVN, Cholamandalam Fin Holdings, Physicswallah, Global Health, and Crisil Ltd may slip into the smallcap segment from the midcap.
Nuvama noted that changes in categorisation by Amfi do not trigger incremental inflows or outflows. However, active mutual fund managers closely track the list to make investment decisions.
