Public sector undertakings to dominate list of Amfi upgrades, shows data

Public sector undertakings (PSUs) to dominate list of Amfi upgradesPublic sector undertakings (PSUs) dominate the list of companies that are slated to get upgraded from ‘midcaps’ to ‘largecaps’ during the semi-annual reclassification exercise done by mutual fund industry body Amfi. Indian Railway Finance Corporation (IRFC), Power Finance Corporation (PFC), Union Bank of India, REC and Indian Overseas Bank are the five PSUs out of the total eight pegged to move up the ladder, showed an analysis done by IIFL Alternative Research. Meanwhile, Mazagon Dock and SJVN are seen upgraded from ‘smallcaps’ to ‘midcaps’. This follows sharp outperformance in the PSU