Top 7 stocks that have been upgraded to largecap status by AMFI

NEW DELHI: Under its semi-annual categorisation of stocks, the Association of Mutual Funds in India (AMFI) has upgraded the status of at least seven midcap stocks to largecap. The list includes Varun Beverages, ABB India, Page Industries, Tata Elxsi, Bosch, Trent and PI Industries.

AMFI's market cap cut-off for largecap stock came in at Rs 48,900 crore whereas the midcap cut-off came at Rs 16,800 crore. The top 100 companies, based on their 6-month average market cap, are considered as largecaps, those from 101st-250th are treated as midcaps while the remaining are smallcaps.

Varun Beverages
The shares of Pepsico India bottler Varun Beverages has more than doubled in the last one year period. Domestic brokerage firm Axis Securities has placed the stock as its top pick for January.

"We believe the near-term challenges (RM inflation, top-line growth) are behind the company and VBL is expected to perform well moving forward," Axis said while giving a target price of Rs 1,450 on the stock.

ABB India
Shares of ABB India, which have rallied over 23% in the last one year, are now on the radar of technical analysts. Prabhudas Lilladher has given an upside target of Rs 3000–3200 and a stop loss near Rs 2550 on the stock.

Page Industries
Shares of Page Industries, which have underperformed in the last one year period, have 7 sell ratings. Out of the 20 analysts with coverage on the stock, only six suggest buying the stock while the remaining seven recommend hold.

Tata Elxsi
Shares of multibagger Tata Elxsi have fallen over 40% from its 52-week high price of Rs 10,760. Out of eight analysts with coverage on the stock, four recommend sell, shows Trendlyne data.

Bosch
Bosch stock, which has fallen over 1% in the last one year, has three buy, two hold and one sell call.

Trent
Shares of the Tata Group retailer have rallied around 25% in the last one year. Out of the 15 analysts covering the stock, nine have buy ratings. The average target price of Rs 1,524.29 represents an upside potential of 15.70%.

PI Industries
The favourite of many long-term investors has rallied over 240% in the last five years and is a consensus buy on Dalal Street. Only two analysts out of 24 have sell ratings on PI Industries.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)