The Association of Mutual Funds in India (AMFI) has updated its market-cap classifications for large, mid, and small-cap stocks, reflecting changes based on average market capitalisation from January to June 2026. The large-cap cutoff has increased to approximately ₹1,06,300 crore from ₹1,05,000 crore in January 2026, according to Mata Securities. Conversely, the mid-cap cutoff has decreased slightly to around ₹33,500 crore from ₹34,700 crore during the same period.
Key Details
The average market capitalisation for large-cap stocks has also seen a decline, easing to ₹2,75,198 crore from ₹2,78,505 crore. Mid-cap averages moderated to ₹62,454 crore from ₹62,919 crore, while small-cap stocks experienced the most significant decline, with the average falling to ₹1,806 crore from ₹1,889 crore, as reported by Mata Securities.
Several companies have shifted categories in the latest review. Hindustan Copper, NLC India, and AIA Engineering have moved up to the mid-cap category. In contrast, Bosch, Siemens Energy India, and Hero MotoCorp have slipped from large-cap to mid-cap status. Additionally, Tata Investment Corporation, Hexaware Technologies, and KPR Mill have transitioned into the small-cap segment.
Background
The updated classifications are crucial for mutual fund schemes, which must invest according to AMFI's categorisation when defining their investment universes. This adjustment reflects the ongoing changes in market dynamics and investor sentiment.
The changes in market-cap classifications could influence mutual fund allocations, particularly in the large and mid-cap sectors, as funds adjust their portfolios based on the new thresholds. Investors will watch for potential shifts in stock performance among affected companies in the upcoming trading sessions.