Every six months, AMFI publishes an updated list of Large Cap, Mid Cap and Small Cap companies as per SEBI's directive. This page analyses what changed in the latest January-June 2026 update — and compares it with the previous July-December 2025 update. The page updates automatically when a new AMFI file is uploaded.
Last updated: July 17, 2026 · Data period: January-June 2026 · Valid until: July 2026 · Next update: July 2026 · Source: Official AMFI India data · Search any company →
The January-June 2026 update was broadly positive for Indian markets — the Large Cap threshold rose 1.1% to ₹1.06 L Cr, reflecting appreciation in large company valuations.
8 companies entered Large Cap while 9 were downgraded — more companies fell than rose, reflecting the rising threshold challenging even quality businesses.
Compared to the July-December 2025 update — when the threshold rose 14.9% — this period saw a more modest recovery.
This was a quieter period for category changes — 33 total changes versus 35 in the previous period.
55 new companies were added — fewer than the 214 added last period.
A direct comparison of every key metric between the two most recent AMFI updates.
| Metric | July-December 2025 update | January-June 2026 update | Difference |
|---|---|---|---|
| Large Cap cutoff change | +14.9% | +1.1% | -13.7 pp |
| Large Cap upgrades | 7 | 8 | +1 |
| Large Cap downgrades | 11 | 9 | 2 |
| SC → MC promotions | 3 | 6 | +3 |
| MC → SC falls | 14 | 10 | 4 |
| New companies added | 214 | 55 | 159 |
8 companies moved from Mid Cap to Large Cap. The Large Cap threshold for January-June 2026 is ₹1.06 L Cr.
| Company | From | To | Market Cap |
|---|---|---|---|
| BSE Ltd. | Mid Cap | Large Cap | ₹1.34 L Cr |
| VODAFONE IDEA LIMITED | Mid Cap | Large Cap | ₹1.23 L Cr |
| HITACHI ENERGY INDIA LIMITED | Mid Cap | Large Cap | ₹1.22 L Cr |
| JINDAL STEEL LIMITED | Mid Cap | Large Cap | ₹1.19 L Cr |
| Indian Bank | Mid Cap | Large Cap | ₹1.18 L Cr |
| INDUS TOWERS LIMITED | Mid Cap | Large Cap | ₹1.13 L Cr |
| Billionbrains Garage Ventures Limited | Mid Cap | Large Cap | ₹1.12 L Cr |
| Bharat Heavy Electricals Ltd. | Mid Cap | Large Cap | ₹1.10 L Cr |
9 companies were downgraded from Large Cap to Mid Cap. A downgrade does not necessarily mean the business deteriorated — the threshold itself rose 1.1%, meaning some companies fell despite growing.
| Company | From | To | Market Cap |
|---|---|---|---|
| Bosch Ltd | Large Cap | Mid Cap | ₹1.06 L Cr |
| Siemens Energy India Limited | Large Cap | Mid Cap | ₹1.06 L Cr |
| Hero MotoCorp Limited | Large Cap | Mid Cap | ₹1.06 L Cr |
| Dr. Reddy's Laboratories Ltd. | Large Cap | Mid Cap | ₹1.06 L Cr |
| LG Electronics India Limited | Large Cap | Mid Cap | ₹1.03 L Cr |
| Max Healthcare Institute Limited | Large Cap | Mid Cap | ₹99,174 Cr |
| Mazagon Dock Shipbuilders Limited | Large Cap | Mid Cap | ₹98,569 Cr |
| Indian Hotels Co. Ltd | Large Cap | Mid Cap | ₹94,199 Cr |
| Lodha Developers Limited | Large Cap | Mid Cap | ₹92,580 Cr |
6 companies moved from Small Cap to Mid Cap.
| Company | From | To | Market Cap |
|---|---|---|---|
| Hindustan Copper Ltd. | Small Cap | Mid Cap | ₹52,824 Cr |
| NLC India Limited | Small Cap | Mid Cap | ₹39,990 Cr |
| AIA Engineering Ltd. | Small Cap | Mid Cap | ₹37,379 Cr |
| Ajanta Pharma Ltd. | Small Cap | Mid Cap | ₹36,652 Cr |
| Aster DM Healthcare Limited | Small Cap | Mid Cap | ₹34,943 Cr |
| Sona BLW Precision Forgings Limited | Small Cap | Mid Cap | ₹33,742 Cr |
10 companies were downgraded from Mid Cap to Small Cap. The Mid Cap cutoff for January-June 2026 is ₹33,664 Cr — companies below this fell to Small Cap.
| Company | From | To | MCap (July-December 2025) | MCap (January-June 2026) |
|---|---|---|---|---|
| Tata Investment Corporation Ltd. | Mid Cap | Small Cap | ₹37,807 Cr | ₹33,335 Cr |
| Hexaware Technologies Limited | Mid Cap | Small Cap | ₹45,643 Cr | ₹32,737 Cr |
| K.P.R. Mill Ltd. | Mid Cap | Small Cap | ₹36,171 Cr | ₹31,798 Cr |
| Jubilant Foodworks Limited | Mid Cap | Small Cap | ₹40,945 Cr | ₹31,408 Cr |
| CRISIL Ltd. | Mid Cap | Small Cap | ₹36,291 Cr | ₹31,192 Cr |
| Global Health Limited | Mid Cap | Small Cap | ₹34,758 Cr | ₹30,821 Cr |
| Physicswallah Limited | Mid Cap | Small Cap | ₹38,485 Cr | ₹30,702 Cr |
| CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED | Mid Cap | Small Cap | ₹35,803 Cr | ₹30,450 Cr |
| SJVN LIMITED | Mid Cap | Small Cap | ₹34,833 Cr | ₹29,117 Cr |
| KAYNES TECHNOLOGY INDIA LIMITED | Mid Cap | Small Cap | ₹40,327 Cr | ₹24,537 Cr |
These companies grew their market cap significantly during this period but remained in the Small Cap category — either because the Mid Cap threshold also rose, or they were not yet large enough to cross it.
| Company | MCap Before | MCap After | Growth |
|---|---|---|---|
| KS Smart Technologies Limited | ₹174 Cr | ₹2,575 Cr | 14.82x (+1,382%) |
| Indiabulls Limited | ₹254 Cr | ₹3,581 Cr | 14.09x (+1,309%) |
| AXIS SOLUTIONS LIMITED | ₹180 Cr | ₹1,008 Cr | 5.61x (+461%) |
| SMT ENGINEERING LIMITED | ₹126 Cr | ₹669 Cr | 5.30x (+430%) |
| Schneider Electric President Systems Ltd | ₹223 Cr | ₹797 Cr | 3.58x (+258%) |
| ONE GLOBAL SERVICE PROVIDER LIMITED | ₹254 Cr | ₹862 Cr | 3.39x (+239%) |
| SIGMA ADVANCED SYSTEMS LIMITED | ₹1,145 Cr | ₹3,821 Cr | 3.34x (+234%) |
| Satani Bearings Ltd. | ₹177 Cr | ₹577 Cr | 3.26x (+226%) |
The July-December 2025 update saw the Large Cap threshold rise 14.9% to ₹1.05 L Cr. 7 companies entered Large Cap and 11 were downgraded. 3 Small Cap companies were promoted to Mid Cap while 14 fell from Mid Cap.
| Company | From | To | Market Cap |
|---|---|---|---|
| MUTHOOT FINANCE LIMITED | Mid Cap | Large Cap | ₹1.25 L Cr |
| HDFC Asset Management Company Limited | Mid Cap | Large Cap | ₹1.17 L Cr |
| Canara Bank | Mid Cap | Large Cap | ₹1.14 L Cr |
| Bosch Ltd | Mid Cap | Large Cap | ₹1.12 L Cr |
| Cummins India Ltd. | Mid Cap | Large Cap | ₹1.11 L Cr |
| Polycab India Limited | Mid Cap | Large Cap | ₹1.09 L Cr |
| Hero MotoCorp Limited | Mid Cap | Large Cap | ₹1.06 L Cr |
| Company | From | To | Market Cap |
|---|---|---|---|
| Shree Cements Ltd. | Large Cap | Mid Cap | ₹1.05 L Cr |
| JINDAL STEEL LIMITED | Large Cap | Mid Cap | ₹1.03 L Cr |
| Mankind Pharma Limited | Large Cap | Mid Cap | ₹99,918 Cr |
| INDUS TOWERS LIMITED | Large Cap | Mid Cap | ₹99,638 Cr |
| United Spirits Limited | Large Cap | Mid Cap | ₹99,546 Cr |
| REC LIMITED | Large Cap | Mid Cap | ₹98,215 Cr |
| Zydus Lifesciences Limited | Large Cap | Mid Cap | ₹97,837 Cr |
| Havells India Limited | Large Cap | Mid Cap | ₹93,919 Cr |
| Bajaj Housing Finance Limited | Large Cap | Mid Cap | ₹91,540 Cr |
| Lupin Ltd | Large Cap | Mid Cap | ₹90,702 Cr |
| Info Edge(India) Ltd. | Large Cap | Mid Cap | ₹88,709 Cr |