Five mid-cap companies added to Kotak model portfolio in broader reshuffle

Kotak Institutional Equities added five mid-cap companies to its model portfolio in a broader reshuffle reported on 28 October 2026, with Dixon Tech recording the largest one-month fall at 16% among the additions. The changes also moved Mankind Pharma from the mid-cap to the large-cap space and replaced Bajaj Finserv with Bajaj Finance in the large-cap allocation. Kotak also changed the positions of several other large-cap companies.

Dixon Tech added after a 16% one-month fall

Dixon Tech entered the mid-cap model portfolio after its shares fell 16% in one month, Kotak Institutional Equities said. Kotak said it had removed the company from the portfolio in July 2026 because the reward-risk balance at higher levels was unfavourable. It said the recent correction led to the stock's reinstatement.

Aster DM Quality Care added after a 15% fall

Aster DM Quality Care was added after its shares fell 15% in one month, according to Kotak Institutional Equities. The brokerage said the shares traded at 25 times one-year forward enterprise value to earnings before interest, tax, depreciation and amortisation.

Endurance Technologies added after a 15% fall

Endurance Technologies joined the mid-cap portfolio after its shares fell 15% in one month, Kotak Institutional Equities said. The brokerage said the stock was down 23% over the previous 12 months. It also said the company was making progress in the four-wheeler components segment.

Emcure Pharmaceuticals added after a 9% fall

Emcure Pharmaceuticals was added after its shares fell 9% in one month. Kotak Institutional Equities said the company traded at 26 times one-year forward price-to-earnings.

Indegene added after a 6% fall

Indegene entered the mid-cap portfolio after its shares fell 6% in one month, Kotak Institutional Equities said. The brokerage said the company traded at 23 times one-year forward price-to-earnings. It also said the stock was broadly flat over the previous 12 months.

Mankind Pharma moved into the large-cap space

Kotak Institutional Equities shifted Mankind Pharma from the mid-cap to the large-cap space in its model portfolio.

Bajaj Finance replaced Bajaj Finserv

Bajaj Finance replaced Bajaj Finserv in the large-cap space, Kotak Institutional Equities said. It described Bajaj Finance as a direct play and said Bajaj Finserv traded at a discount.

Reliance Industries receives a higher portfolio weight

Kotak Institutional Equities increased the weight assigned to Reliance Industries in the model portfolio.

HDFC Life position trimmed

Kotak Institutional Equities reduced the position assigned to HDFC Life in the model portfolio.

ICICI Bank position trimmed

The model portfolio's ICICI Bank position was trimmed, Kotak Institutional Equities said.

Infosys position trimmed

Kotak Institutional Equities also reduced the position assigned to Infosys.

Axis Bank position cut by 50 basis points

The position in Axis Bank was reduced by 50 basis points, according to Kotak Institutional Equities.

State Bank of India position cut by 50 basis points

Kotak Institutional Equities reduced the State Bank of India position by 50 basis points.