In a matter of mere days, Chandrababu Naidu has been the talk of the town from politics to the Stock Market. One of the companies associated with Naidu has delivered an astonishing return in the past few days, in which his family has significant ownership. Following the outstanding returns provided by this company over the last five days, Chandrababu Naidu's family wealth has witnessed a significant increase.
Chandrababu Naidu's company in the spotlight is Heritage Foods Ltd. Founded in 1992 by the TDP chief, it currently operates across three business divisions: dairy, retail, and agri. According to the company's exchange filing, Naidu's son Nara Lokesh is one of Heritage Foods' promoters. In five days, this stock gave investors a return of 55.79%. The share has jumped over 101% in the past month, making Heritage Foods Ltd a remarkable performer.
Hitting Upper Circuit Daily
Heritage Foods shares closed at ₹661.25 on Friday, hitting the upper circuit with a 10% gain and also setting a new 52-week high. These shares have been hitting the upper circuit for three consecutive days. Its 52-week low is ₹206.60 per share. The company's market cap stands at a total of ₹3,956 crores.
Naidu's Family Earns 785 Crores
The surge in Heritage Foods shares has led to a substantial rise in the Naidu family's wealth. According to BSE shareholding, the family, prospective Chief Minister Chandrababu Naidu, owns 35.71% of the company which equals 3,31,36,005 shares. Over the last five days, the share price has increased by ₹237 per share. This has resulted in earnings of ₹785 crores.
Source: aajtak
How the Ownership Stands
Naidu's son Nara Lokesh holds approximately 10.82% as a promoter of Heritage Foods until March 31, 2024. Other promoters include Bhuvaneshwari Nara and Devansh Nara, who own 24.37% and 0.06% in the company, respectively. Nara Brahmani, the daughter-in-law, holds a 0.46% share in Heritage Foods.
