Expected changes in Large Cap, Mid Cap and Small Cap stocks
A lot has changed in the last six months. The equity market has gained a lot and some segments of the equity market underwent a vertical rise. The market cap of many companies has almost doubled in the last nine months. Except for a single day fall, the Indian equity market has an unabated rise till the end of December, which was the third consecutive month of rising.
As mandated by SEBI, the renewed list of large, mid & small-caps will be released by AMFI by the first week of January 2021. The new categorisation will be effective from February 2021 and would hold till July 2021.
Equity dedicated mutual funds will have to re-align their schemes within one month. This normally does not augur a radical change; however, in some cases, it may warrant a little change in the portfolio. Major gainer would be companies from Adani Group, whose two companies will now be categorised as ‘large-cap’ from earlier ‘mid-cap’.
|
From Mid to Large-Cap
|
|
Company name
|
M-Cap(31-12-20)
|
Expected
|
Earlier
|
|
Adani Enterprises Ltd
|
52680.9
|
Large Cap
|
Mid Cap
|
|
Adani Gas Ltd
|
41231.88
|
Large Cap
|
Mid Cap
|
|
Jubilant FoodWorks Ltd
|
36820.02
|
Large Cap
|
Mid Cap
|
|
Godrej Properties Ltd
|
36086.65
|
Large Cap
|
Mid Cap
|
|
Apollo Hospitals Enterprise Ltd
|
33547.25
|
Large Cap
|
Mid Cap
|
|
PI Industries Ltd
|
33337.51
|
Large Cap
|
Mid Cap
|
|
Whirlpool of India Ltd
|
33322.25
|
Large Cap
|
Mid Cap
|
|
SRF Ltd
|
33010.24
|
Large Cap
|
Mid Cap
|
Similarly, there are many companies that will now be a part of ‘mid-cap’ that were earlier categorised as ‘large-cap’. These are mostly from the PSU pack.
|
From Large Cap to Mid Cap
|
|
Company name
|
M-Cap(31-12-20)Rs Crore
|
Expected
|
Earlier
|
|
Hindustan Petroleum Corporation Ltd
|
32724.79
|
Mid Cap
|
Large Cap
|
|
Piramal Enterprises Ltd
|
32242.95
|
Mid Cap
|
Large Cap
|
|
MRF Ltd
|
32110.71
|
Mid Cap
|
Large Cap
|
|
United Breweries Ltd
|
31351.84
|
Mid Cap
|
Large Cap
|
|
Bank of Baroda
|
28416.48
|
Mid Cap
|
Large Cap
|
|
General Insurance Corporation of India Ltd
|
24386.16
|
Mid Cap
|
Large Cap
|
|
Container Corporation Of India Ltd
|
24313.89
|
Mid Cap
|
Large Cap
|
The movement in the broader market is likely to make more changes in the small-cap and mid-cap space. There are almost 18 companies from small-cap space that may be re-classified as mid-cap.
|
From Small Cap to Mid Cap
|
|
Company Name
|
M-Cap(31-12-20) Rs Crore
|
Expected
|
Earlier
|
|
Laurus Labs Ltd
|
18950.11
|
Mid Cap
|
Small Cap
|
|
Indiamart Intermesh Ltd
|
18653.5
|
Mid Cap
|
Small Cap
|
|
Dixon Technologies (India) Ltd
|
15734.61
|
Mid Cap
|
Small Cap
|
|
Navin Fluorine International Ltd
|
12928.84
|
Mid Cap
|
Small Cap
|
|
Deepak Nitrite Ltd
|
12853.68
|
Mid Cap
|
Small Cap
|
|
Alok Industries Ltd
|
11569.01
|
Mid Cap
|
Small Cap
|
|
Persistent Systems Ltd
|
11567.69
|
Mid Cap
|
Small Cap
|
|
AstraZeneca Pharma India Ltd
|
11553.63
|
Mid Cap
|
Small Cap
|
|
Suven Pharmaceuticals Ltd
|
11479.61
|
Mid Cap
|
Small Cap
|
|
Tata Elxsi Ltd
|
11414.34
|
Mid Cap
|
Small Cap
|
|
Procter & Gamble Health Ltd
|
11311.57
|
Mid Cap
|
Small Cap
|
|
APL Apollo Tubes Ltd
|
11035.71
|
Mid Cap
|
Small Cap
|
|
Timken India Ltd
|
10010.86
|
Mid Cap
|
Small Cap
|
|
Blue Dart Express Ltd
|
9709.71
|
Mid Cap
|
Small Cap
|
|
Indian Bank
|
9661.73
|
Mid Cap
|
Small Cap
|
|
Affle (India) Ltd
|
9647.06
|
Mid Cap
|
Small Cap
|
|
Chambal Fertilisers & Chemicals Ltd
|
9495.78
|
Mid Cap
|
Small Cap
|
|
KEC International Ltd
|
9369.59
|
Mid Cap
|
Small Cap
|
There are many companies that may be now re-classified as small-cap that were earlier mid-cap.
|
From Mid Cap to Small Cap
|
|
Company Name
|
M-Cap (31-12-20) Rs Crore
|
Expected
|
Earlier
|
|
IIFL Wealth Management Ltd
|
8962.17
|
Small Cap
|
Mid Cap
|
|
Motilal Oswal Financial Services Ltd
|
8819.82
|
Small Cap
|
Mid Cap
|
|
TTK Prestige Ltd
|
8600.79
|
Small Cap
|
Mid Cap
|
|
SKF India Ltd
|
8426.95
|
Small Cap
|
Mid Cap
|
|
CESC Ltd
|
8142.98
|
Small Cap
|
Mid Cap
|
|
Central Bank of India
|
8137.65
|
Small Cap
|
Mid Cap
|
|
JM Financial Ltd
|
8038.18
|
Small Cap
|
Mid Cap
|
|
V-Guard Industries Ltd
|
7999.21
|
Small Cap
|
Mid Cap
|
|
PVR Ltd
|
7281.73
|
Small Cap
|
Mid Cap
|
|
Symphony Ltd
|
7178.29
|
Small Cap
|
Mid Cap
|
|
Future Retail Ltd
|
4267.78
|
Small Cap
|
Mid Cap
|
The above calculation is based on the market cap as of December 31, 2020, for the share prices traded on BSE. There may be a slight change in the actual list as it is calculated on the average of market cap and from different exchanges.
The above list is only for information purposes and should not be considered as a recommendation.