HDFC Asset Management Company rose 1.38% to Rs 2,486.25 after the company appointed Navneet Munot as the managing director (MD) and chief executive officer (CEO).
The board of directors of the company approved that Navneet Munot will be appointed as MD & CEO of the company and he will succeed the present MD, Milind Barve.
Navneet Munot is currently the Chief Investment Officer (CIO) at SBI Mutual Fund.
The announcement was made on Monday, 16 November 2020. The Indian stock market was shut on Monday on account of Diwali Balipratipada.
HDFC AMC is investment manager to HDFC Mutual Fund. The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
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