MF stock reclassification: BSE, 8 other midcaps to qualify for largecaps

Amfi's upcoming half-yearly reclassification may see over 30 stocks change categories, with BSE and eight other midcaps likely to move into the largecap basket

The large, mid, and smallcap investment universe of mutual funds (MFs) is headed for a reshuffle, with over 30 stocks set to witness a change in their market capitalisation (mcap) category. The changes will be reflected in the Association of Mutual Funds in India's (Amfi) half-yearly reclassification of the MF stock universe set to be released in the first week of July.

 

According to an analysis by Nuvama Wealth Management Alternative and Quantitative Research, the largecap cutoff is estimated at around ₹1.07 trillion in the upcoming reclassification — a marginal increase from ₹1.05 trillion during the previous rejig in January 2026. The midcap cutoff, however, is expected to decline to around ₹32,800 crore from ₹34,800 crore.

 

Potential upgrades from midcap to largecap include BSE, Vodafone Idea, Jindal Steel & Power, and Hitachi Energy India. Among current largecaps, Indian Hotels Company, Lodha Developers, and Mazagon Dock Shipbuilders are expected to slip into the midcap category.

 

Meanwhile, Hindustan Copper, NLC, AIA Engineering and Ajanta Pharma are among the stocks set to move from smallcap to midcap basket, while midcaps such as Kaynes Technology India, SJVN, Cholamandalam Financial Holdings and PhysicsWallah are likely to move into the smallcap basket.

 

The smallcap space will see the addition of at least 26 other names, which are new listings. 

 

While category changes do not automatically trigger fund inflows or outflows, active fund managers closely monitor the revisions while recalibrating portfolio allocations and investment mandates.