Top 9 Small-Cap Stocks That May Soon Become Mid-Caps

Synopsis: Around nine small-cap stocks, including Delhivery and Hindustan Copper, may be upgraded to the mid-cap segment in AMFI’s H2 CY26 rejig, improving liquidity, institutional inflows, and potential valuation re-rating.

Small-cap stocks nearing a potential upgrade to the mid-cap segment under AMFI’s upcoming semi-annual rejig in H2 CY26 are drawing attention. Such reclassification typically improves liquidity, widens institutional participation, and often triggers valuation re-rating as broader investor coverage increases across these companies.

Around nine small-cap names, including Delhivery, Hindustan Copper and others, are being tracked for possible inclusion in the mid-cap universe, according to Nuvama Institutional Equities. The shift reflects sustained market-cap expansion and may further strengthen fund inflows as benchmarks and mandates adjust positioning accordingly. Here are the small-cap stocks that may soon be upgraded to Mid-cap

Hindustan Copper Ltd

Hindustan Copper Ltd (HCL), incorporated in 1967 and headquartered in Kolkata, is India’s only vertically integrated copper producer covering mining, beneficiation, smelting, and refining—it holds a commanding position in the domestic mining sector. With a market capitalization of Rs 52,340 crore, the shares of the company closed at Rs 541.25 per share, down by 1.49 percent from the previous day’s close

NLC India Ltd

NLC India Limited (NLCIL), a “Navratna” CPSE under the Ministry of Coal established in 1956, is a premier Indian company specializing in lignite mining and thermal/renewable power generation. With a market capitalization of Rs 41,418 crore, the shares of the company closed at Rs 298.70 per share, up by 0.69 percent from the previous day’s close

AIA Engineering Ltd

AIA manufactures high-chrome grinding media, liners, and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates, and mining industries.  With a market capitalization of Rs 37,493 crore, the shares of the company closed at Rs 4,107 per share, down by 1.57 percent from the previous day’s close

Ajanta Pharma Ltd

Ajanta Pharma is a Mumbai-based, specialty pharmaceutical company founded in 1973, specializing in branded generics (India/emerging markets) and generics (USA). With over 7 manufacturing facilities, it holds leading positions in therapeutic areas like cardiology, dermatology, ophthalmology, and pain management, focusing on first-to-market products. With a market capitalization of Rs 34,571 crore, the shares of the company closed at Rs 2,767.15 per share, down by 0.43 percent from the previous day’s close

Aster DM Healthcare Ltd

Aster DM Healthcare Limited is one of the largest integrated private healthcare service providers operating in the Gulf Cooperation Council countries and an emerging player in India. With a market capitalization of Rs 36,548 crore, the shares of the company closed at Rs 705.40 per share, up by 2.56 percent from the previous day’s close

Delhivery Ltd

Delhivery provides a full range of Logistics services, including delivery of express parcels and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express freight services, and supply chain software. With a market capitalization of Rs 33,657 crore, the shares of the company closed at Rs 449.55 per share, up by 0.12 percent from the previous day’s close

Central Bank of India

The Central Bank of India is a commercial bank. Its segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business. The Treasury Operations segment includes dealing in government and other securities, money market operations and Forex operations. With a market capitalization of Rs 32,585 crore, the shares of the company closed at Rs 36 per share, down by 0.39 percent from the previous day’s close

Sona BLW Precision Forgings Ltd

Sona BLW Precision Forgings is an India-based automotive technology company. The company is engaged in designing, manufacturing, and supplying engineered automotive systems and components such as differential assemblies, gears, conventional and micro-hybrid motors, BSG systems, and EV Traction motors across all vehicle categories. With a market capitalization of Rs 35,112 crore, the shares of the company closed at Rs 564.65 per share, down by 1.71 percent from the previous day’s close

J B Chemicals & Pharmaceuticals Ltd

J.B. Chemicals and Pharmaceuticals Limited, established in 1976, is one of India’s leading pharmaceutical companies. An integrated, publicly-listed organization with a focus on supplying affordable, quality products both in India and internationally, JBCPL is trusted by healthcare professionals globally. With a market capitalization of Rs 32,175 crore, the shares of the company closed at Rs 2,003.95 per share, down by 0.40percent from the previous day’s close

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