AMFI reshuffle: Mazagon Dock, MCX among 19 stocks that may be upgraded in H2 CY25

Mazagon Dock and Multi Commodity Exchange (MCX) are among 19 stocks that may be upgraded to the large- and mid-cap segments by the Association of Mutual Funds in India (AMFI) in its rejig for H2 CY25, according to Nuvama Institutional Equities.

The early predictions also suggest potential downgrades of certain stocks from large-cap to mid-cap and from mid-cap to small-cap segments.

Around 10 stocks may get upgraded to largecap segment in the AMFI rejig from the midcap segment, including Indian Hotels, Solar Industries India, Mazagon Dock Shipbuilders, Max Healthcare Institute, Shree Cements, Mankind Pharma, Apollo Hospitals Enterprises, Union Bank of India, Lupin, and Jindal Steel & Power.


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Nine stocks may soon get upgraded to midcap space from smallcap space which includes stocks such as Godfrey Phillips India, K.P.R. Mill, Narayana Hrudayalaya, Laurus Labs, Cholamandalam Fin. Holdings, Authum Investment & Infra, Radico Khaitan, Global Health, Multi Commodity Exchange.

The two new entrants in the midcap segment may be Hexaware Technologies and ITC Hotels.

Around 11 stocks may get downgraded to midcap segment from largecap segment, including RVNL, Hero Motocorp, Indian Overseas Bank, Cummins India, Swiggy, Polycab India, Bosch, ICICI Prudential Life Insurance, Dabur India, JSW Energy, and NTPC Green.

Ola Electric Mobility, Aditya Birla Fashion And Retail, Inventurus Knowledge Solution, and Endurance Technologies are among 12 midcap stocks which may get downgraded to smallcap segment.

Based on current average marketcap levels, AMFI may set the large-cap cut-off to approximately Rs 91,600 crore (compared to Rs 1 lakh crore as of December 2024) and the midcap threshold to be around Rs 30,700 crore (compared to Rs 33,200 crore as of December 2024).

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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.

The cut-off period spans from January 1, 2025, to June 30, 2025, with the announcement expected in the first week of July. The categorisation will take effect from August 1, 2025.