In a significant financial boost, the shares of Heritage Foods soared by over 105% in just 12 trading days, greatly enhancing the wealth of Chandrababu Naidu’s family. The stock hit a new 52-week high of Rs 727.9 on the BSE, elevating the family’s wealth by Rs 1,225 crore. On May 23, the stock was at Rs 354.5, and from June 3 to June 10, it saw a substantial rise. Chandrababu Naidu’s family holds 3,31,36,005 shares, or 35.71%, of the company.
As of March 31, 2024, Naidu’s son Nara Lokesh owns a 10.82% stake in Heritage Foods. Bhuvaneshwari Nara, Naidu’s wife, and his grandson Devaansh Nara hold 0.06% and 24.37% of the firm, respectively. His daughter-in-law Nara Brahmani owns a 0.46% stake. Due to this surge, the family’s total wealth from Heritage Foods now stands at Rs 2,391 crore, with Bhuvaneshwari Nara’s share valued at Rs 1,631.6 crore and Nara Lokesh’s at Rs 724.4 crore.
Heritage Foods’ stock experienced this remarkable growth following Naidu’s win over YSRCP candidate Jagan Mohan Reddy in the assembly elections. Heritage Foods is a leading producer of branded and value-added dairy products in India and operates in the cattle feed industry through its subsidiary, Heritage Nutrivet Limited (HNL). The company’s products reach about 1.5 million families across 11 Indian states. Meanwhile, Naidu congratulated Narendra Modi on his third consecutive term as Prime Minister, expressing his congratulations on social media.
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