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Yes Bank And 5 Others Join Large Cap Category

By Staff
|

In the semi-annual review by the Association of Mutual Funds in India (AMFI), six companies were added to the large-cap category. These companies include Yes Bank Ltd, Gland Pharma Ltd, Adani Enterprises Ltd, PI Industries Ltd, Jubilant Foodworks Ltd and Hindustan Agro.

The changes will be effective for the February-July period in 2021.

Yes Bank And 5 Others Join Large Cap Category
 

In 2017, the Securities and Exchange Board of India (SEBI) provided definitions to large-cap, mid-cap and small-cap companies, and asked AMFI to prepare lists of stocks in these baskets.

The threshold for the large-cap segment is Rs 28,900 crore. Yes Bank's six-month average market cap stands at Rs 34,869 crore, while its market cap at the end of 5 January was Rs 44,973.56 crore on BSE.

The troubled private lender was dropped from the Nifty 50 index, Nifty banking index and other Nifty indices on 19 March 2020.

In the semi-annual review, AMFI also reclassified Concor India, NMDC Ltd, MRF, United Breweries Ltd, GIC of India, Bank of Baroda and Max Healthcare as mid-cap stocks, from their previous status as large-cap. The market value cut-off for mid-caps is Rs 8,389 crore.

Stocks that have been upgraded as mid-cap from small-cap are Laurus Lab, Indiamart Intermesh Ltd, Dixon Technologies, Navin Fluorine International Ltd, AstraZeneca Pharma, Deepak Nitrite, Bombay Burmah, Suven Pharma, P&G Healthcare, Granules India Ltd and Persistent Systems.

Story first published: Wednesday, January 6, 2021, 9:48 [IST]
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