AMFI reshuffle: Mazagon Dock, GAIL may slip to midcap; Vodafone Idea eyes largecap upgrade

Mazagon Dock Shipbuilders and GAIL are among eight stocks that may be downgraded to the midcap category, while Vodafone Idea, currently a midcap, could be upgraded to the largecap segment in AMFI’s semi-annual rejig in H2 CY26, according to Nuvama Institutional Equities.

Around eight largecap stocks that may get demoted to the midcap segment in the AMFI rejig include Lodha Developers, Indian Hotels Co., Siemens Energy India, Max Healthcare Institute, Mazagon Dock Shipbuilders, LG Electronics India, Gail (India), and Dr. Reddy'S Laboratories.

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Vodafone Idea is among the eight stocks that currently have mid cap status, but in the AMFI rejig, may get largecap status.

The other stocks that may soon get upgraded to the largecap segment are Indian Bank, BSE, Jindal Steel, Indus Towers, Billionbrains Garage Ventures, Hitachi Energy India, and Ashok Leyland.

Around nine stocks may soon lose their smallcap status and get upgraded to midcap segment. These nine stocks include Hindustan Copper, NLC India, AIA Engineering, Ajanta Pharma, Aster DM Healthcare, Delhivery, Central Bank of India, Sona BLW Precision Forgings, and J.B. Chemicals.

Physicswallah and Jubilant Foodworks are among the nine stocks that may soon lose their midcap status and enter the smallcap segment in the AMFI rejig.

The other seven stocks are - Kaynes Technology India, SJVN, Global Health, K.P.R. Mill, Cholamandalam Fin Holdings, Crisil and Godrej Industries that may get demoted to smallcap segment.

Nearly 19 stocks may enter the smallcap segment in H2 CY26. Some of these stocks are Kwality Walls, Fractal Analytics, Gaudium IVF, Rajputana Stainless, Bharat Coking, and Sedemac Mechatronics.

Based on current average market-cap levels, AMFI may increase the large-cap cut-off to approximately Rs 1.04 lakh crore (compared to Rs 1.05 lakh crore as of December 2025) and the mid-cap threshold to be around Rs 31,500 crore (compared to Rs 34,800 crore as of December 2025).

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The change in categorization 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, said the release.

The cut-off period spans from January 1, 2025, to June 30, 2026. The categorisation will take effect from July 1, 2026.

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