SIX STOCKS MAY BE RECLASSIFIED AS LARGE-CAPS IN AMFI REVIEW

MUMBAI: As markets continue to rally amid disruptions and concerns about the second wave, six mid-cap stocks are expected to be reclassified into large caps by Association of Mutual Funds in India (Amfi) in its semi annual review. The mutual fund industry body will release the list of stocks that are reclassified between July 5-7 while the fresh list will be effective from August 2021 to January 2022.

According to estimates made by Abhilash Pagaria, analyst, Edelweiss Alternative Research, six mid-cap stocks that may be reclassified as large caps are Adani Gas, Apollo Hospitals, Cholamandalam Investment and Finance Company Limited, NMDC, Honeywell Automation and Bank of Baroda.

“These are our initial predictions, and we will release our final names in last week of June. Stocks in the list are sorted by highest conviction,” said Pagaria.

Conversely, six large cap stocks are likely to be reclassified as mid-cap. Those are Abbott India, Hindustan Aeronautics, Alkem Laboratories, Hindustan Petroleum Corp. Ltd, PI Industries and Petronet. HPCL has jumped 32% in this year so far following 18% slump in 2020.