Adani Transmission Ltd. and Muthoot Finance Ltd. have been included among large caps while Yes Bank Ltd. and Indiabulls Housing Finance stand excluded, according to the changes by the Association of Mutual Funds in India.
The Securities and Exchange Board of India mandates reclassification of stocks based on market capitalisation every six months and mutual funds have to realign schemes within a month. The changes, according to AMFI, will be applicable from January to June 2020.
Based on the average market in the past six months, the stocks are classified into three categories.
- Large Cap: First 100 companies by market
- Mid Cap: Companies raking 101-250.
- Small Cap: Ranked 251 onwards
According to AMFI, here are the latest inclusions and exclusions:
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