HDFC Asset Management Company shares drop 3% after cybersecurity incident
Business
HDFC Asset Management Company's shares slipped 3% on Monday after the company disclosed a cybersecurity incident.
On May 16, someone claimed to have accessed parts of its IT system, prompting HDFC AMC to quickly put safety measures in place and call in outside experts.
HDFC AMC says no serious damage
HDFC AMC said early checks showed no disruption or serious damage from the incident and reassured everyone that it was handling things transparently.
The news came this month, just after its Q4 FY26 results, where profits dropped 2.4% year-over-year, even though revenue actually grew by 17%.