Among the companies joining the large-cap league are Macrotech Developers, Polycab, REC, Shriram Finance, Union Bank of India, Indian Overseas Bank, and the recently listed Jio Financial Services. These entities will now carry the label of “largecap” stocks.

Conversely, UPL, Adani Wilmar, PI Industries, and six others face a downgrade to the “midcap” category from their earlier status as “largecap.”

IRCTC, Bosch, Tube Investments, Samvardhana Motherson, and Hero MotoCorp will undergo a shift from “largecap” to “midcap” classification.

Several state-run entities like Mazagon Dock, SJVN, as well as Suzlon, will now fall under the “midcap” category, transitioning from their previous classification as “smallcap.” Additionally, newly promoted names in the midcap category include Lloyds Metals, Kalyan Jewellers, KEI Industries, CreditAccess Grameen, Exide, Nippon Life AMC, Ajanta Pharma, Narayana Hrudayalaya, and Glenmark Pharma. Recent listings Tata Technologies, JSW Infra, and IREDA also find a place in the midcap category.

Conversely, Pfizer, Vinati Organics, Atul, Whirlpool, Sumitomo Chemicals, Laurus Labs, Aditya Birla Fashion, Bata, and Bharat Dynamics will experience a downgrade from “midcap” to “smallcap” status.

Addressing the market impact, brokerage firm Nuvama Alternative & Quantitative Research noted that the change in categorization may not necessarily lead to incremental inflows or outflows. The firm emphasized that active equity fund managers could choose to adjust their portfolios based on fundamental, non-quantitative reasoning.

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