Chandrababu Naidu's Heritage Foods Shares Jump Over 100% In A Month As He Gears Up To Be Andhra CM

Chandrababu Naidu's Heritage Foods Shares Jump Over 100% In A Month As He Gears Up To Be Andhra CM

Heritage Foods, a Hyderabad-based company, is owned by the politically significant Nara family.

Juviraj AnchilUpdated: Monday, June 10, 2024, 12:53 PM IST
article-image

The change in regime in the state of Andhra Pradesh will not only bring about a change in the state's cabinet and its Chief Minister, but also to the fortunes of the incoming chief minister, N. Chandrababu Naidu's company.

Heritage Food Shares Jump

Heritage Foods, a Hyderabad-based company, is owned by the politically significant Nara family.

With the June 4 Lok Sabha results, we also saw the results for the assembly of Andhra Pradesh, which saw the return of N. Chandrababu Naidu's TDP back in power in the southern state.

This development appears to helped the fortunes of the aforementioned Heritage Foods, as the company shares have ballooned in the recent past. On Monday, June 10 alone, shares of the company rose by over 6 per cent, halfway through the day's trade.

Naidu is expected to succeed his bitter- rival, YS Jagan Mohan Reddy as Andhra CM on June 12.

In fact, just in the past one month alone, the diary company has made major gains at Dalal Street. In the period of one month, the share price value has risen by a staggering 103.31 per cent.

The company was founded over 30 years ago, in 1992, by the incoming CM of Andhra Pradesh. It plays crucial role, as it is one of the biggest private dairy product markers, in a market that is largely dominated by  state-owned and co-operative companies.

The company was founded over 30 years ago, in 1992, by the incoming CM of Andhra Pradesh. It plays crucial role, as it is one of the biggest private dairy product markers, in a market that is largely dominated by state-owned and co-operative companies. | Twitter

In addition, according to an ET report, the cumulative wealth of the Naidu family jumped by a whopping Rs 1,225 crore in just under a fortnight or 12 days. This rise has likely been contributed by the jump in performance of the dairy products company. The company also has three other subsidiaries under its ownership, with a revenue of over Rs 3000 crore.

In fact, just in the past one month alone, the diary company has made major gains at Dalal Street. In the period of one month, the share price value has risen by a staggering 103.31 per cent.

In fact, just in the past one month alone, the diary company has made major gains at Dalal Street. In the period of one month, the share price value has risen by a staggering 103.31 per cent. |

Private Player in Public Business

The company was founded over 30 years ago, in 1992, by the incoming CM of Andhra Pradesh. It plays crucial role, as it is one of the biggest private dairy product markers, in a market that is largely dominated by state-owned and cooperative companies.

May it be Amul or state-government-owned companies, including Avin in Tamil Nadu, Nandini in Karnataka, and Milma in Kerala.

At 12:34 IST, the share price of the company rose by 5.32 per cent or 35.20, taking the total price to Rs 696.45 per individual share.  

RECENT STORIES

First Strikes in 40 Years: Tata Steel Workers in UK to Protest Job Cuts and Furnace Closures

First Strikes in 40 Years: Tata Steel Workers in UK to Protest Job Cuts and Furnace Closures

Morgan Stanley Buys 1.7 Crore Shares Of Axis Bank For ₹2,083 Crore

Morgan Stanley Buys 1.7 Crore Shares Of Axis Bank For ₹2,083 Crore

Infinix Note 40 5G Launched In India With 108MP Camera & 120Hz AMOLED Display

Infinix Note 40 5G Launched In India With 108MP Camera & 120Hz AMOLED Display

Stubborn Food Prices Delaying Disinflation, Says RBI Governor Shaktikanta Das At MPC Minutes

Stubborn Food Prices Delaying Disinflation, Says RBI Governor Shaktikanta Das At MPC Minutes

Paytm To Close THESE Inactive Wallets From July 20: Everything You Need To Know

Paytm To Close THESE Inactive Wallets From July 20: Everything You Need To Know