HDFC Asset Management Company Ltd reappoints Mr. Milind Barve as MD

The Board of Directors of HDFC Asset Management Company Ltd at its meeting held on June 11, 2020, based on the recommendation of the Nomination & Remuneration Committee, has re-appointed Mr. Milind Barve (DIN:00087839) as Managing Director of the Company, not liable to retire by rotation, for a further period effective from November 1, 2020 upto January 31, 2021, subject to the approval of the members at the ensuing Annual General Meeting.

Mr. Barve had expressed his desire to not seek an extension of his current term as Managing Director which expires on October 31, 2020, as he will be turning 63 this year. However, in order to provide adequate time to the Company for identifying a successor in accordance with the succession planning process and to ensure continuity and smooth functioning of the business of the Company, Mr. Barve has agreed to an extension of 3 months as the Managing Director of the Company effective from November 1, 2020 to January 31,2021.

Shares of HDFC Asset Management Company Ltd was last trading in BSE at Rs.2625.25 as compared to the previous close of Rs. 2611.75. The total number of shares traded during the day was 6608 in over 1278 trades.

The stock hit an intraday high of Rs. 2660 and intraday low of 2607.65. The net turnover during the day was Rs. 17419509.

Source : Equity Bulls

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