Jindal Steel, PNB to migrate to MF large-cap basket: Analyst report

MF industry's stock reclassification to also see entry of Canara Bank and IDBI Bank into largecap space

Public sector banks Punjab National Bank (PNB) and Canara Bank, along with LIC-owned IDBI Bank , are set for an upgrade from mid-cap to large-cap in the lastest stock categorisation list to be issued by the Association of Mutual Funds in India (Amfi) this week, according to report by Nuvama Institutional Equities.

Amfi takes the average market capitalisation (m-cap) for the past six months to arrive at the fresh list at the end of every six-month period (January to June and July to December). Top 100 stocks by average m-cap qualify for the largecap status and the next 150 for