What has changed in the market cap category in the last six months

The mutual fund industry body, Association of Mutual Funds in India (AMFI), has recently released its list of stocks in different categories that is a large cap, mid cap, and small cap. The average market cap data shows that the rise in the market is mainly led by large cap companies. In the last six months, the average market cap of a large cap category has increased by 3.5 per cent to Rs 1,08,574.7 crore. In the same period, the average market cap of mid cap companies has dropped by 3.04 per cent to Rs 14,963 crore. Even in case of small cap categories, the average market cap has declined massively by 17 per cent to Rs 350 crore.

Some of the major entrants in the large cap categories are Info Edge (India), Adani Transmission, REC, Kansai Nerolac Paints, and Muthoot Finance. All these companies were in the mid cap category in the list released by AMFI, six months ago. Companies that went out of large cap category and are now in mid cap category are Cadila Healthcare, The New India Assurance, Vodafone Idea, Indiabulls Housing Finance, and Yes Bank.

There was even major churning in the mid cap category. 12 companies, who were a part of the small cap in the last list, are now part of mid cap companies while 13 companies, who were in the mid cap category in the last list, have now slipped into the small cap list.