HDFC AMC shares decline ahead of AGM

HDFC Asset Management Company, or HDFC AMC, will conduct its Annual General Meeting (AGM) today, June 26. The agendas of the meeting include receiving, considering, and adopting the audited financial statements of the company for the financial year ending March 31 and declaring a dividend of Rs 48 per equity share for the financial year ending March 31, 2023.

"Notice is hereby given that the Twenty-Fourth Annual General Meeting of the Members of HDFC Asset Management Company Limited ("the Company") will be held on Monday, June 26, 2023, at 3.00 p.m. (IST) through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM")," the regulatory filing read.

Further, the HDFC AMC board will discuss whether or not to fill up the vacancy caused by the retirement of Keki Mistry, approve the re-appointment of Dhruv Kaji, as well as the re-appointment of Jairaj Purandare, Sanjay Bhandarkar, Parag Shah, and Roshni Nadar Malhotra as independent directors.

At around 1:30 PM, shares of HDFC AMC traded half a per cent lower on the BSE. The stock has lost over 4 per cent in four consecutive trading sessions. The closed 0.49 per cent down on BSE at Rs 2006.15 apiece. 

HDFC AMC share price: Past performance

In 2023, the stock has lost over 8 per cent against the Nifty50’s rise of over 2 per cent.

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