Nykaa Share Price News: Shares of Nykaa continued to slide, falling almost 42 per cent from its 52-week high. As a result, Nykaa has also lost the status of large cap stock. Association of Mutual Funds in India (AMFI) has downgraded Nykaa shares from large cap to mid cap category. Nykaa is India’s leading fashion and beauty e-tailer and its parent company is FSN E-Commerce. Nykaa is not the only company to downgrade from largecap to midcap. Shares of Tata Elxsi and Infoedge have also moved out of the large cap category.
The top 100 companies by market cap are classified as large caps, while those ranked 101 to 250 are classified as midcaps. The classification of stocks is done by the mutual fund organization every six months. Companies from 251 to 500 numbers are kept in the small cap category.
At the time of writing, Nayak’s stock was down one per cent at 144. Fifty two week high level of this stock is Rs. 247 while the 52 week low was Rs. There are 114. Nykaa’s share price has declined by 37 per cent in the last one year. While this share has decreased by more than 7 percent in the last six months. Nykaa shares have gained 4.80 per cent in the last one month.
Which stocks have been downgraded by the Association of Mutual Funds?
Besides Nykaa, shares of JSW Energy, Tata Elxsi, Indus Towers and Macrotech Developers, Infoedge have been downgraded to midcaps. Stocks moving from midcap to smallcap include Piramal Pharma, Tata Tele, Fine Organic, Clean Science, Dr. These include Red PathLabs and Blue Dart Express.
Which shares were upgraded?
Amfi has also upgraded some shares. Among these, shares of RVNL, Bank of Maharashtra, Punjab & Sind Bank, Jindal Stainless, Bharat Dynamics have been upgraded from small cap to mid cap category. All the newly listed scrips are placed in the small cap category. Among these, Mankind Pharma’s share is the only one which has joined the large cap.
However, there has not been any large scale inflow or outflow in these shares due to change in the category of shares by AMFI. But the visibility of stocks changes. Fund managers analyze such stocks afresh and decide to invest in them.