Heritage Foods Shares Soar Post-Election, Boosting Wealth of Chandrababu Naidu’s Family
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Heritage Foods Shares Soar Post-Election, Boosting Wealth of Chandrababu Naidu’s Family . and the Heritage Foods, a company founded by Chandrababu Naidu, has experienced a significant boost in its stock value following the impressive performance of his party, the Telugu Desam Party (TDP), in the recent Lok Sabha and Andhra Pradesh Assembly elections. The shares of Heritage Foods have soared by 55 percent over the past five days, resulting in a substantial increase in wealth for Nara Bhuvaneshwari, Mr. Naidu’s wife and a major promoter of the company.
On June 3, just hours before the election results were announced, Heritage Foods shares were trading at ₹424. As of today, the shares have climbed to ₹661.25, marking a remarkable surge in their value. This rise has led to a ₹535 crore increase in the net worth of Nara Bhuvaneshwari.
Chandrababu Naidu founded Heritage Foods in 1992. The company has grown significantly over the years and is described on its website as “one of the fastest growing public-listed companies in India.” Heritage Foods operates two main business divisions: dairy and renewable energy. The company’s dairy products are widely available across Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh.
Nara Bhuvaneshwari is the largest shareholder of Heritage Foods, holding 2,26,11,525 shares, according to data from the Bombay Stock Exchange (BSE). Additionally, Mr. Naidu’s son, Nara Lokesh, holds 1,00,37,453 shares in the company.
The substantial increase in the company’s stock value is seen as a reflection of investor confidence following the TDP’s electoral success, highlighting the intricate link between political developments and market reactions in India.
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