IDBI Bank,
, , SAIL, Life, , and are likely to downgraded from the large-cap to mid-cap category, the brokerage said.
AMFI announces reclassification of shares twice a year. The next round is scheduled during the first week of July.
Mutual fund managers must consult the AMFI classification to balance their portfolio according to the category requirement.
Re-categorisation need not lead to fresh inflows or outflows. It is not necessary that the active equity fund manager change stock weightages in their respective portfolios to match the AMFI classification.
But, equity-oriented schemes, whose portfolios are focussed on market capitalisation, must to realign their holdings within one month of the announcement based on discretion.
AMFI classifies stocks by taking into account data from January to June 2022. According to ICICI Securities, , KPR Mills, Tanla Platform, Poonawala Fin, , , and are likely to be shifted from small-cap to mid-cap category.
