Sterlite Tech, Ather, Cupid shares may join AMFI's midcap list; NSE, Jio largecap entry likely

Sterlite Technologies Ltd, Ather Energy Ltd, Cupid Ltd and RBL Bank Ltd are among smallcap stocks that could enter AMFI's midcap list in the forthcoming review. Vedanta and Indian Railway Finance Corporation could slip from the largecap to the midcap category, data compiled by Nuvama Institutional Equities suggest.

Based on its early predictions and current average market-cap levels, Nuvama estimated the large-cap cut-off at Rs 1.12 lakh crore against Rs 1.06 lakh crore in June 2026 and the mid-cap cut-off at Rs 36,700 crore  against Rs 33,600 crore in June 2026.

The cut-off period will run from July 1 to December 31, 2026, with the final categorisation taking effect from February 1, 2027. Recent debutants NSE and Jio Platforms Ltd may join the largecap club, along with stocks such as Bosch, Lenskart, Zydus Lifesciences and LG Electronics India.

Potential midcap entrants included Sterlite Technologies, Ather Energy, RBL Bank, Welspun Corp, Gland Pharma, Aditya Infotech, Aegis Logistics, Cupid, K.P.R. Mill, Physicswallah, Emcure Pharmaceuticals, , Global Health and Anand Rathi Wealth. SBI Funds Management, Manipal Health Enterprises and Indo-MIM could be new entries.

Largecaps such as Godrej Consumer Products, Ambuja Cements, Indus Towers, Vedanta, Tata Consumer Products, IRFC and HDFC AMC may be categorised as midcaps.

Procter & Gamble Hygiene, Godfrey Phillips India, UCO Bank, Escorts Kubota, Dalmia Bharat, Tata Investment Corporation, Indian Renewable Energy Development Agency, Blue Star, Delhivery, United Breweries, PI Industries and ITC Hotels are some of the midcaps that may be categorised as smallcaps. Others included Housing & Urban Development Corporation, Cochin Shipyard, 3M India*, Container Corporation, AIA Engineering and NLC India.

AMFI is expected to announce the stock re-categorizations in the first week of January 2027. 
The changes in categorization may not trigger incremental inflows or outflows. However, active mutual fund managers closely monitor the list when taking fresh positions or adjusting holdings across scheme categories, Nuvama noted.