Small-Cap’s Upper Size Limit Eclipses Global Standards To Hit Rs 300 Crore: ICICI Securities

ICICI Securities Report

AMFI’s upcoming semi-annual list of stocks classified by size will take into account data from July 2023 to December 2023, which incidentally was a period of significant outperformance by small and mid caps, as compared to large caps.

100% of the upgrades from small to mid, and mid to large cap are likely to be driven by cyclical stocks.

Consequently, the upper threshold of market cap size for small-cap stocks is approaching an all-time high of ~$3 billion, which is above the global size interval considered for small caps ($300 million to 2 billion).

Based on current market cap, around 58 stocks which are likely to get classified as small caps will have a market cap of more than $2 billion.

Upper threshold for midcaps rose to $8.4 billion and for large caps stood at $205 billion.

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