Cyclicals likely to dominate upgrades in AMFI reclassification: ICICI Securities

Piramal Enterprises

15/12/2022 06:07

** Cyclical stocks would likely dominate market
capitalisation upgrades in upcoming Association of Mutual Funds
in India's (AMFI) size reclassification, according to ICICI
Securities
    ** AMFI updates classification of companies based on market
capitalisation changes semi-annually, with the next update due
on Dec. 31, 2022
    ** Varun Beverages  VARB.NS , ABB India  ABB.NS , Page
Industries  PAGE.NS  see high probability for upgrade from mid-
to large-cap category: ICICI Securities
    ** Timken India  TIMK.NS , Metro Brands  METB.BO , Blue Dart
 BLDT.NS , Fine Organic  FINO.NS , KPIT Technologies  KPIE.NS ,
Apollo Tyres  APLO.NS , UCO Bank  UCBK.NS  will  most likely see
an upgrade from small- to mid-cap category: ICICI Securities
    ** There is a high chance for Piramal Enterprises  PIRA.NS ,
Gland Pharma  GLAD.NS , Mphasis  MBFL.NS , Bandhan Bank
 BANH.NS , One 97 Communications  PAYT.NS , Muthoot Finance
 MUTT.NS  to be demoted from large- to mid-cap category
    ** Tanla Platforms  TNSL.NS , Chambal Fertilisers  CHMB.NS ,
Indian Energy Exchange  IIAN.NS , National Aluminium  NALU.NS ,
Godrej Industries  GODI.NS  and New India Assurance  THEE.NS 
could be downgraded from mid-cap to small-cap category: ICICI
Securities
    ** ICICI Securities considered the changes in market
capitalisation of companies between July 1 and Dec. 9, for this
compilation
    ** The Nifty 50 has risen nearly 17% between July and
December
    ** Over the last five months, large-cap equity fund inflows
came in at 5.44 billion rupees ($65.99 million), mid-cap equity
fund inflows were at 74.36 billion rupees and small-cap equity
fund inflows came in at 78.24 billion rupees: AMFI data
($1 = 82.4425 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))