Varun Beverages is the top bottling firm for iconic beverage brand Pepsi, and now it has joined six other firms including Bosch and ABB, to secure the large cap tag for its stock. Their market capitalisation was taken as a parameter for the inclusion in the premium category.
PI Industries, Page Industries, Tata Elxsi and Trent Limited are others upgraded to large from mid-cap. But large-cap stocks such as Bandhan Bank, Gland Pharma, Mphasis, Muthoot and Paytm parent One97 Communications have been moved down to the mid-cap category.
As Piramal Enterprises was dropped from the large cap category, its pharma division, demerged from the firm in 2022, entered the mid cap space.
A circular of the Securities and Exchange Board of India (SEBI) mandated an industry body to review the list of large, mid, and small-cap stocks, taking their six-month market cap average into consideration. These updated lists are released every six months since 2017, and will next come out in July.
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