These midcaps are about to turn largecaps

Mumbai: Shares of Yes Bank, Adani Enterprises, PI Industries, Hindustan Aeronautics and Jubilant FoodWorks are likely to get upgraded as part of the half-yearly market-cap categorisation by mutual fund industry body AMFI, which is expected to release a fresh list by January 5, said ICICI Securities.The brokerage has assigned a high probability to the first four and a low probability for Jubilant FoodWorks.AMFI categorises stocks into large caps, mid caps and small caps based on the average market capitalisation every six months. Mutual fund schemes must align their portfolios based on the share categories.ICICI Securities said it expects 4-5 switches between large caps and mid caps and 11-12 switches between midcaps and small caps.The lower end of the size limit for large caps and midcaps have increased to ₹27,600 crore and ₹8,200 crore respectively based on market data for the second half of 2020 available so far, said ICICI Securities.As per a Sebi circular dated October 6, 2017, mutual funds have one month to align their portfolios as per the fresh list.MRF, NMDC, United Breweries, Container Corporation, General Insurance, and Bank of Baroda may be recategorised as midcap from large cap, the brokerage said.Meanwhile, Laurus Labs, IndiaMart InterMesh, Navin Fluorine, Dixon Technologies, Alok Industries, AstraZeneca Pharma, Deepak Nitrite, Bombay Burmah and Suven Pharma are likely to be recategorised as mid cap from small cap, said ICICI Securities.

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