- In the wake of TDP chief Chandrababu Naidu’s resounding success in the Andhra Pradesh assembly and Lok Sabha elections, the stock of Heritage Foods, a company linked to Naidu’s family, witnessed an unprecedented surge.
- Established in 1992, Heritage Foods has carved a niche for itself as a leading player in India’s dairy industry, specializing in value-added and branded dairy products.
- In the aftermath of Naidu’s electoral triumph, Heritage Foods experienced a remarkable upswing in its stock value, soaring by an astounding 55 percent over the course of five trading sessions.
- Collectively, the family’s net worth experienced a meteoric rise, soaring from Rs 1,319 crore to an impressive Rs 2,190 crore within a mere week. This remarkable increase of Rs 870 crore underscores the profound impact of political events on market dynamics.
In the wake of TDP chief Chandrababu Naidu’s resounding success in the Andhra Pradesh assembly and Lok Sabha elections, an unexpected beneficiary emerged beyond the political arena. The stock of Heritage Foods, a company linked to Naidu’s family, witnessed an unprecedented surge, propelling the family’s wealth to new heights.
Established in 1992, Heritage Foods has carved a niche for itself as a leading player in India’s dairy industry, specializing in value-added and branded dairy products. Its offerings, ranging from milk and curd to ghee and flavoured milk, cater to more than 1.5 million households across 11 states, cementing its position as a household name in the dairy sector.
In the aftermath of Naidu’s electoral triumph, Heritage Foods experienced a remarkable upswing in its stock value, soaring by an astounding 55 percent over the course of five trading sessions. What began as a modest valuation of Rs 424 per share on June 3 swiftly escalated to an all-time high of Rs 661.25 on June 7, reflecting the exuberance of investors buoyed by Naidu’s political victory.
This surge in stock value translated into substantial gains for Naidu’s family, whose significant stake in Heritage Foods served as a windfall during this period of bullish sentiment. According to exchange data, Naidu’s wife Bhuvaneswari holds a commanding 24.37 percent stake in the company, while his son Lokesh and daughter-in-law Brahmani own 10.82 percent and 0.46 percent stakes, respectively. Even Naidu’s grandson Devansh boasts a 0.06 percent ownership share.
Collectively, the family’s net worth experienced a meteoric rise, soaring from Rs 1,319 crore to an impressive Rs 2,190 crore within a mere week. This remarkable increase of Rs 870 crore underscores the profound impact of political events on market dynamics, highlighting the intricate interplay between politics and business in India’s economic landscape.
As Heritage Foods continues to ride the wave of investor optimism, fueled by Naidu’s electoral victory, the fortunes of his family stand as a testament to the symbiotic relationship between political influence and market sentiment. In an age where politics and business are inextricably intertwined, Naidu’s electoral triumph serves as a catalyst for economic growth, reshaping the landscape of India’s corporate ecosystem.
(With inputs from agencies)
