AMFI list: Mazagon Dock, Solar Industries, Siemens Energy India are now largecap stocks

Midcap defence PSU stocks Mazagon Dock Shipbuilders Ltd and Solar Industries Ltd have now entered the largecap category, joining the ranks of established players like Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL), as per AMFI’s latest classification of large, mid, and smallcap stocks. Additionally, Siemens Energy India Limited, the recently demerged entity from Siemens, has also been included in the largecap list, the data revealed.

"The market has remained quite volatile over the past six months, leading to a decline in market cap cut-off levels from their December 2024 highs. AMFI’s market-cap cut off for the large-cap cut-off is now Rs 91,600 crore (down from Rs 1 lakh crore in December 2024), while the midcap threshold has declined to Rs 30,800 crore (down from Rs 33,200 crore in December 2024)," said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.

As per Pagaria, large caps (top 100) now account for 61.3 per cent of the market, slightly down from December’s 62.1 per cent. Mid-caps (101-250) saw a slight down tick now making up 19.2 per cent, down from 19.6 per cet in the December review.

"Small-caps (251 and beyond) now represent 19.5 per cent, an increase from December’s 18.3 per cent. The cut-off in the smallcap segment has also increased, driven by the inclusion of several recent listings in this space," Pagaria said.

Indian Hotels, Max Healthcare Institute, Mankind Pharma, Union Bank of India, Jindal Steel & Power Ltd, Lupin Ltd and Apollo Hospitals Enterprises Ltd are some of the midcap stocks, which have entered the largecap category as per the latest rejig. The new list will now come to effect from August 1, 2025, to January 31, 2026.

Rail Vikas Nigam Ltd (RVNL), Bosch, Indian Overseas Bank, Swiggy, Hero MotoCorp, NTPC Green Energy, Dabur India and Polycab India are among largecaps, which have now been downgraded to midcaps, as per the latest cut-off.

Godfrey Phillips India, KPR Mill, Narayana Hrudayalaya, Laurus Labs,Cholamandalam Fin Holdings, Authum Investment & Infra and Inventurus Knowledge Sols are some of thge smallcaps upgraded to the midcap list.

Aditya Birla Fashion and Retail, Ola Electric Mobility, Tata Technologies, Punjab & Sind Bank, Punjab & Sind Bank and Deepak Nitrite led companies that are downgraded to smallcaps. Many newly-listed companies made it to the smallcap list.

As per SEBI’s circular issued in October 2017, all listed stocks must be categorised into clearly defined baskets of largecap, midcap, and smallcap stocks. The objective was to ensure uniformity in the investment universe for equity mutual fund schemes. SEBI also mandated that AMFI would be responsible for preparing this list. Accordingly, AMFI, in consultation with SEBI and the stock exchanges, compiles the categorisation based on market capitalisation data provided by BSE, NSE, and MSEI.