Mankind, TVS, IDBI becomes largecaps; Nykaa, JSW Energy, Page Industries down to midcap bracket

Nuvama Quantitative and Alternative Research said in a recent note that the market categorisation review by the Association of Mutual Funds in India (AMFI) is in-line with its predictions. The list will be valid from August 2023 to January 2024.

Jindal Steel & Power, Punjab National Bank, IDBI Bank, Canara Bank, TVS Motor Co, Tube Investments and Mankind Pharma have entered into the largecap category from midcap. Mankind Pharma has surged over 57 percent from its issue price of Rs 1080 a share. TVS Motors climbed 61 percent, IDBI Bank advanced 91 percent while Canara Bank and Tube Investments rose over 71 percent each in the last one year.

Punjab & Sind Bank, Carborundum Universal Ltd, Bank of Maharashtra, Fertilisers & Chemicals Travancore Ltd, Jindal Stainless, Rail Vikas Nigam, New India Assurance, Bharat Dynamics and IIFL Finance are the new entrants from smallcap segment to midcap segment.

Meanwhile, FSN E Commerce, JSW Energy, Tata Elxsi, Indus Towers, Page Industries, Macrotech Developers and Info Edge have moved to midcap from largecap. FSN E-Commerce stock has fallen nearly 52 percent in the last one year while Page Industries declined 31 percent since October 2022.
Tata Elxsi has lost around 31 percent since August last year while Indus Tower erased around 29 percent since July 2022.