The mutual fund body categorizes stocks on the basis of their market capitalisation once every six months. The top 100 stocks in terms of their market value are tagged as largecap, those ranked between 101-250 are treated as midcaps while others in the top 500 list (251-500) are treated as smallcaps.
Following a 42% drop in its share price from its 52-week high, FSN E-Commerce, which runs fashion and beauty e-tailer Nykaa, has been downgraded from largecap to midcap category by the Association of Mutual Funds in India (AMFI)
Not just Nykaa, JSW Energy, Tata Elxsi, Indus Towers, Macrotech Developers, and Info Edge have also been downgraded to midcap.
Stocks that have been downgraded from midcap to smallcap are Piramal Pharma, Tata Tele, Fine Organic, Clean Science, Dr. Lal Pathlabs, and Blue Dart Express.
On the other hand, RVNL, Bank of Maharashtra, Punjab & Sind Bank, Jindal Stainless, Bharat Dynamics, and New India Assurance ha ..
Source : Economic Times 5th July 2023