Upper limits for mid-, small-caps zoom amid markets rally, shows data

With India’s market capitalisation surpassing the $3-trillion mark, stocks across the board are adding heft. The upper limit for qualifying as a mid-cap stock –under the Securities and Exchange Board of India’s (Sebi’s) definition for mutual fund reclassification — has hit an all-time high of $5.4 billion.

In 2013, amid the taper tantrum sell-off, it had dropped to just $1 billion, shows an analysis done by ICICI Securities.

Essentially, this means the size of the 101st listed company has jumped five times in eight years, while the benchmark Sensex has risen 2.7 times.

Sebi defines top 100 companies by market cap as large-caps,