Heritage Foods, backed by Telugu Desam Party family, records remarkable 70% surge in six days

The stock of Heritage Foods, a leading dairy firm promoted by the family of Telugu Desam Party (TDP) chief and soon-to-be Andhra Pradesh Chief Minister Chandrababu Naidu, has seen an impressive surge of 70% over the past six days. The meteoric rise in the company's share price has resulted in significant financial gains for the Naidu family, particularly benefiting Naidu’s 9-year-old grandson, Devansh.

Significant Gains for Devansh

Exchange data reveals that Devansh holds a 0.06% stake in Heritage Foods, amounting to 56,075 shares. With the recent surge in stock price, the value of his holdings has increased dramatically. On June 3, the shares were valued at ₹2.4 crore. Following the stock's rise, the value has now surged to ₹4.1 crore, an increase of ₹1.7 crore in less than a week.

Naidu Family's Fortunes on the Rise

The Naidu family collectively holds a substantial 35.7% stake in Heritage Foods. This includes:

Chandrababu Naidu’s wife, Bhuvaneswari, who owns 24.37%.

Their son, Lokesh, who has a 10.82% stake.

Daughter-in-law, Brahmani, who owns 0.46%.

The family’s wealth has seen a massive jump of ₹1,100 crore in just six trading sessions, with the overall net worth climbing to ₹2,400 crore from ₹1,319 crore.

Stock Performance and Market Impact

Heritage Foods’ shares closed at ₹696 on the National Stock Exchange (NSE) on June 10, representing a 5.2% gain for the day. The stock also touched an intraday high of ₹727.35, contributing to its record-breaking performance over the past week.

The rise in share value coincides with TDP's growing influence, as they are now a key ally in the National Democratic Alliance 3.0 government. This political boost has bolstered investor confidence, propelling the stock to new heights.

Heritage Foods: A Market Leader

Founded in 1992, Heritage Foods has established itself as a prominent player in the dairy industry. The company's products, including milk, curd, ghee, paneer, flavored milk, and immunity milk, are staples in over 1.5 million households across 11 states in India.

As Chandrababu Naidu prepares to be sworn in as Andhra Pradesh’s Chief Minister on June 12, the future appears bright for both the political leader and the family’s business interests. The remarkable performance of Heritage Foods is a testament to the company’s market strength and the burgeoning fortunes of the Naidu family.