Eight small-caps become mid-cap stocks on AMFI list. MFs to queue up soon

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Every year, twice a year in July and January, AMFI conducts the exercise of reclassifying stocks as per their market capitalization. It defines large-cap (top 100 companies in terms of full market capitalisation), mid-cap (from 101 to 250th stocks) and small-cap companies (from 251th stock onwards) in order to ensure uniformity in respect of the investment universe for various categories of equity MF schemes. Mutual funds schemes rejig their portfolios based on this classification aligning with the regulator’s mandate. The latest one that was prepared based on the six-month data ended December 2022 which is applicable from February 2023 till the end of July 2023. The latest data shows that eight stocks graduated from being small-cap to mid-cap. Within the equity schemes, especially the midcap oriented schemes are more likely to add these stocks in their portfolio to adhere to the regulator’s requirement of holding at least 65% of the assets in the midcap universe. Portfolio data shown are as of November 30, 2022. (Source: AMFI and ACEMF).

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Timken India
Total number of active equity schemes that held the stock: 56
A sample of active schemes that newly added the stock in the last six months: Bank of India Mid & Small Cap Equity & Debt, LIC MF Tax and SBI Magnum Equity ESG Fund

3/10

Metro Brands
Total number of active equity schemes that held the stock: 45
A sample of active schemes that newly added the stock: Mahindra Manulife Rural Bharat and Consumption Yojana, Tata Retirement Sav Fund – Prog and Shriram Long Term Equity Fund

4/10

Blue Dart Express
Total number of active equity schemes that held the stock: 22
A sample of active schemes that newly added the stock: HSBC Focused, LIC MF Tax and Canara Rob Emerg Equities Fund

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Fine Organic Industries
Total number of active equity schemes that held the stock: 23
A sample of active schemes that newly added the stock: Axis Quant, WOC Mid Cap and IDFC Regular Savings Fund

6/10

UCO Bank
Total number of active equity schemes that held the stock: 1
Active scheme that newly added the stock: Quant Small Cap Fund

7/10

ZF Commercial Vehicle Control Systems India
Total number of active equity schemes that held the stock: 57
A sample of active schemes that newly added the stock: Axis Growth Opp, Motilal Oswal Multi Asset and Canara Rob Small Cap Fund

8/10

Apollo Tyres
Total number of active equity schemes that held the stock: 41
A sample of active schemes that newly added the stock: IIFL Focused Equity, IDFC Midcap and Tata Flexi Cap Fund

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KPIT Technologies
Total number of active equity schemes that held the stock: 25
A sample of active schemes that newly added the stock: LIC MF Flexi Cap, Axis Quant and LIC MF Tax Plan

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Piramal Pharma
Total number of active equity schemes that held the stock: 8
A sample of active schemes that newly added the stock: Quant Mid Cap, Mahindra Manulife Large Cap Pragati Yojana and Taurus Flexi Cap Fund