MUMBAI, July 8 -- Labels matter in the stock market because they influence where institutional money flows. India's latest mutual fund classification shows market leadership is shifting, with capital markets, power equipment makers, public-sector banks, telecom infrastructure companies and metals replacing several pharma, healthcare, auto and consumer-facing companies in the large-cap universe.

The Association of Mutual Funds in India's (Amfi) latest semi-annual categorization of stocks for the second half of calendar year 2026 reflects changes in companies' six-month average full market capitalization and influences the investment universe for large-, mid- and small-cap mutual funds, although active fund managers do not necessarily reba...