INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Within half-a-year since Sebi defined largecap, midcap and smallcap companies in order to ensure uniformity in the investment
universe for equity mutual fund schemes, Amfi has released a revised list, as mandated by Sebi, which has sent many midcaps into the
largecap category and vice-versa.
The new order will be effective for the July-December period.
The first 100 companies in terms of
six-month average market capitalisation are considered as largecaps, the ones that fall between 101 and 250 are categorised as midcaps and
any company than ranks above 250 in terms of m-cap are rated as smallcaps.
Data suggests many midcap stocks have become largecaps in the
revised list as their m-caps have moves upward, while many largecaps have fallen back into the midcap basket.
Domestic mutual funds will now
have to realign their portfolios in line with this categorisation within a month, Edelweiss Securities said in a note.