AMFI 2026 Reshuffle: Swiggy, HDFC AMC likely to get largecap upgrade, LIC Housing Finance may drop to smallcap

Swiggy, HDFC Asset Management Company (AMC), Muthoot Finance, Bosch, Polycab India, Canara Bank, Cummins India, and Hero Motocorp are among eight stocks that may be upgraded to large-cap status, while LIC Housing Finance could be downgraded to small-cap in AMFI’s semi-annual rejig in February 2026, according to Nuvama Institutional Equities.

Seven stocks may soon get demoted to smallcap space from midcap status currently, which includes stocks such as Sona BLW Precision Forgings, AIA Engineering, Gujarat Gas, Ajanta Pharma, LIC Housing Finance, KPIT Technologies, and Honeywell Automation India.

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Five stocks — Endurance Technologies, Poonawalla Fincorp, Cohance Lifesciences, Apar Industries, and Delhivery — may be upgraded to the midcap segment from their current smallcap status.

Additionally, HDB Financial Services and Anthem Biosciences are likely to enter the midcap category as new additions.

Meanwhile, Info Edge (India), Lupin, Indus Towers, Bajaj Housing Finance, Havells India, United Spirits, Zydus Lifesciences, and REC could be downgraded from largecap to midcap status in AMFI’s upcoming reshuffle.

Around 47 stocks may be classified as smallcaps in AMFI’s upcoming recategorisation, including NSDL, Vikram Solar, Vikran Engineering, Urban Company, Crizac, Anand Rathi Share, Jaro Institute of Technology, JSW Cement, Saatvik Green Energy, Aditya Infotech, Bluestone Jewellery & Lifestyle, Smartworks Coworking Spaces, Indogulf Cropsciences, Shanti Gold International, and Gem Aromatics.

Based on current average market capitalisations, AMFI may raise the largecap cut-off to about Rs 1 lakh crore (from Rs 91,600 crore in June 2025) and the midcap threshold to around Rs 32,900 crore (from Rs 30,700 crore).

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The change in categorisation doesn’t lead to incremental inflows or outflows. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes, said the release.

The cut-off period spans from July 1, 2025, to December 31, 2025, with the announcement expected in the first week of January. The categorisation will take effect from February 1, 2026.