Prashant Jain resigns from HDFC Asset Management Company Ltd

Mr. Prashant Jain, Chief Investment Officer of HDFC Asset Management Company Limited after 19 years, has decided to move on and has tendered his resignation to the Company. The Board, on the recommendation of Nomination & Remuneration Committee, at its meeting held on July 22, 2022, has approved the appointment of Mr. Chirag Setalvad as Head - Equities and Mr. Shobhit Mehrotra as Head-Fixed income. Both, Mr. Setalvad and Mr. Mehrotra will be reporting to Mr. Navneet Munot, Managing Director & CEO of the Company.

Mr. Setalvad has been part of the Investment Team since inception of the Company and after a brief stint of 2.5 years outside starting October 2004 joined us once again in March 2007 and has been with the Company since then. He has been managing some of our equity schemes for a long time. Mr. Mehrotra has been with the Company for over 18 years and is presently managing few Fixed Income schemes. Both Mr. Setalvad and Mr. Mehrotra are capable Investment professionals, ready to take up the mantle of heading the Equities and Fixed Income function and are well supported by highly experienced and committed team of Investment professionals.

Shares of HDFC Asset Management Company Limited was last trading in BSE at Rs. 1925.10 as compared to the previous close of Rs. 1920.75. The total number of shares traded during the day was 10884 in over 1617 trades.

The stock hit an intraday high of Rs. 1937.25 and intraday low of 1892.00. The net turnover during the day was Rs. 20814392.00.

Source : Equity Bulls

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HDFCAssetManagementCompany INE127D01025 PrashantJain CIO Resignation