Heritage Foods - Naidu's wife's wealth zooms Rs 580 cr in 5 days!

This week was quite tumultuous for the stock market. After the results of the Lok Sabha elections, there was a turmoil in the stock market. Most company shares were down. However, there was strength in the shares of fast-moving consumer goods (FMCG) companies.

During this time, one FMCG company attracted everyone’s attention towards itself. In the last five trading sessions, the company’s shares showed a rapid increase of more than 250 rupees. The reason for this is the company’s political connections. Let’s find out what was the reason behind the rise in the shares of this FMCG company is. How much has the value of the company’s promoters increased with the rise in shares?

This stock belongs to FMCG company Heritage Foods. Heritage Foods’ shares are receiving significant support from the results of the Lok Sabha elections. Actually, this company is associated with the family of Telugu Desam Party (TDP) Chief Chandrababu Naidu. The Naidu family has a significant stake in the company. As BJP fell short from forming the single majority in the election results, the roles of TDP and JDU have become quite important.

There is no doubt that TDP will play a major role in the new government. On the other hand, the party has been successful in returning to power in Andhra Pradesh as well.

Due to this, the company’s share prices are rising.

FMCG company Heritage Foods’ shares hit an upper circuit even today, June 7. The company’s shares jumped 10 percent to Rs. 661.25. This is also its 52-week high. On the day of the election results, June 4, when the entire stock market was in a tailspin, this share was still surging. Only this week, heritage shares have become more than 60 percent stronger.

The price of Heritage Foods’ shares was Rs. 402.90 on May 31, 2024, which reached a high of Rs. 661.25 on June 7. There has been a 258 rupees or 60 percent increase in the share price in the last 5 trading sessions. The promoters of Heritage Foods also benefited from the rise in the share price and their wealth increased. At the end of the March quarter, the total promoter shareholding in the company was 41.3 percent. Chandrababu Naidu’s wife Bhuvaneshwari had about 24.37 percent, i.e. over 2.26 crore shares, while his son Nara Lokesh had nearly 10.82 percent, whereas daughter-in-law Brahmani Nara had about 0.46 percent and grandson Devansh had 0.06 percent shareholding.

In the last 5 days, with the rise in the company’s share prices, the value of Bhuvaneshwari’s shareholding has increased by more than Rs 580 crores. The interesting thing is that TDP Chief Chandrababu Naidu himself founded Heritage Foods in 1992. Since then, this company is one of the fastest-growing integrated dairy companies, which also exists in the renewable sector.