AMFI releases list of stocks based on market capitalisation for mutual funds


New Delhi, Jul 10: Following capital markets regulator SEBI’s diktat on consolidation of mutual fund schemes under specific categories, mutual fund regulator AMFI has released a list of stocks that have been ranked on the basis of market capitalisation.
The Associaiton of Mutual Funds in India (AMFI) has categorised the top 100 companies by full market capitalisation as large-cap stocks.
Companies that rank 101-250 in terms of full market cap have been categorised as mid-cap stocks, while the remaining have been categorised as small-cap stocks.
The regulator has ranked close to 5,077 stocks in all.
The Securities and Exchange Board of India (SEBI) had asked AMFI last year to rank stocks based on their market capitalisation for the convenience of mutual funds.
This was because SEBI’s order on categorisation of mutual funds require fund houses to invest in only those stocks that fit the category. For instance, a large-cap fund can invest only in large-cap stocks, i.e. any stock ranked in the top 100.
“SEBI has defined large-cap, mid-cap, and small-cap companies in order to ensure uniformity in respect of the investment universe for equity mutual fund schemes. Further, SEBI has also stipulated that AMFI shall prepare the list of stocks in this regard.
Accordingly, AMFI, in consultation with SEBI and Stock Exchanges, has prepared the list of stocks, based on the data provided by Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Metropolitan Stock Exchange of India (MSEI),” a statement on AMFI’s website read.
Market capitalisation is the value of a listed, publicly-traded company, calculated by multiplying the total number of outstanding shares of the company by its prevalent market price.