A company founded by Chandrababu Naidu has experienced significant gains after his party, TDP, performed well in the Lok Sabha and Andhra assembly elections. Shares of Heritage Foods have surged 55 percent in the last five days, resulting in an increase of ₹535 crore for Naidu’s wife, Nara Bhuvaneshwari, who is a promoter in the company.
The stock was trading at ₹424 on June 3, just hours before the election results were announced. Today, Heritage Foods shares are at ₹661.25. Chandrababu Naidu founded Heritage Foods in 1992. The company’s website describes it as “one of the fastest growing public-listed companies in India,” with two business divisions: dairy and renewable energy.
Heritage’s milk and milk products are currently available in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh.
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Nara Bhuvaneshwari is the largest shareholder of Heritage Foods, holding 2,26,11,525 stocks, according to BSE data. Chandrababu Naidu’s son, Nara Lokesh, also owns 1,00,37,453 shares of the company.
Following the sharp rise in stock prices, Nara Lokesh’s net worth increased by ₹237.8 crore. The significant surge in share value began on June 4, as the Lok Sabha election results started to come in. The TDP won 16 out of the 17 seats it contested and played a crucial role in the NDA’s election victory.
The NDA secured 293 seats in the 543-member Lok Sabha. The BJP, which had enjoyed a strong majority in the previous two terms, won only 240 seats, falling short of the 272 needed to form a government.
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