Despite the recent crash in the stock market on June 4 following the Lok Sabha Election result 2024, the FMCG stock, Heritage Foods, over the past five days have been on a positive note. The surge in the prices of Heritage Foods limited stocks also meant good news for Bhuvaneswari Nara, Vice Chairperson & Managing Director of Heritage Foods Limited. Bhuvaneswari Nara is wife of TDP Chief Chandrababu Naidu, who is set to take oath as Andhra Pradesh Chief Minister after TDP's stellar show in the Andhra assembly elections. Naidu has also announced his support for Narendra Modi and is part of the NDA.
Stake in Heritage Foods
TDP leader Nara Chandrababu Naidu wife Nara Bhuvneshwari holds a substantial 24.37 percent stake in Heritage Foods Ltd. She owns 2,26,11,525 shares, making her a major shareholder of the company.
Impact on Nara Bhuvneshwari's Net Worth
The recent surge in the Heritage Foods stock price led to a significant increase in Nara Bhuvneshwari's net worth. According to reports, in just five days, her wealth increased by a staggering Rs 579 crore.
On May 31, the share of the company closed at Rs 402.90 each. But over the next five trading session the share price surged, reflecting a strong performance by the company in a short span.
About Heritage Foods
Heritage Foods was founded by Chandrababu Naidu in 1992. According to the company website, it has grown to become one of India's fastest-growing publicly listed companies, with business divisions in dairy and renewable energy. The company's milk and milk products are sold across multiple states, including Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, among others.
Share performance
The shares of the company on Friday, June 7 at 1:16 pm IST were trading at Rs 661.25, up by 10.00 per cent.
Bulk Block deals
According to trendlyne data, On June 4, 2024, there were significant bulk transactions involving Heritage Foods Ltd. on the NSE. Graviton Research Capital LLP purchased 1,291,887 shares at an average price of Rs 451.81per share, which constituted 1.39 per cent of the company's equity. On the same day, HRTI Private Limited acquired 865,505 shares at Rs 451.88 per share, representing 0.93 per cent of the company. QE Securities LLP also made a purchase, buying 569,209 shares at Rs 446.95 per share, amounting to 0.61 per cent of the equity.
Simultaneously, these firms were also involved in bulk selling transactions of Heritage Foods Ltd. Graviton Research Capital LLP sold 1,291,868 shares at Rs 452.62 per share, equating to 1.39 per cent of the company’s equity. HRTI Private Limited sold 869,339 shares at Rs 454.19 per share, which was 0.94 per cent of the equity. QE Securities LLP sold 572,370 shares at Rs 451.14 per share, constituting 0.62 per cent of the equity.
