Shares of JIO Financial jumped due to this move of AMFI; IREDA and JSW Infra also benefited

Photo:FILE Jio Financial Services

Jio Financial, a subsidiary of Reliance Industries, which was listed in August last year, has been upgraded to the large cap segment by AMFI i.e. Association of Mutual Funds in India. Whereas Tata Tech, JSW Infra and IREDA have been included in the midcap category.

Let us tell you, these changes will be applicable from February 2024 and till July 2024 or until AMFI reclassifies the stock again. Will remain in force till then. Jio Financial was a midcap stock till now since its listing in August. Now he has been included in the large cap. Jio Financial closed 3.20 percent higher in today’s trading session. Whereas, JSW Infra closed 0.44 percent higher and IREDA closed 2.36 percent higher. However, there was a decline of about half a percent in the shares of Tata Tech.

These stocks were included from midcap to largecap.

Apart from Jio Financial, Power Finance Corporation, IRFC, Microtech Developers, Polycap India, REC, Shriram Finance, Union Bank and IOB have also been upgraded to largecaps.

These shares upgraded from smallcap to midcap

Mazagon Dock, Suzlon Energy, Lloyd Metal, SJVN, Kalyan Jewellers, KEI Industries, Credit Access Gramin, Exide Industries, Nippon Life, Ajanta Pharma, Narayana Hridaya and Glenmark Pharma have been upgraded from smallcap to midcap.

Every 6 months, AMFI divides the stocks into largecap, midcap and smallcap on the basis of valuation. With this upgrade, the limit for largecap stocks has increased to Rs 67,000 crore from Rs 49,700 crore in June 2023. The cutoff limit for midcap stocks has increased to Rs 22,000 crore from Rs 17,400 crore earlier.

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