In the wake of TDP leader Chandrababu Naidu's victory in Assembly election of Andhra Pradesh elections, the companies based in the state are reflecting with a unprecedented surge in their stock prices.
The Rally continues
Following Naidu's triumph in the state assembly election, shares of Andhra based firms experienced a significant gain in stock prices.
For instance, KCP Limited, a diversified business group in segments like cement, sugar and hospitality has seen a stock surge by 50 per cent over the past four session.
Similarly, Amara Raja Energy, led by former TDP Parliamentary Party Leader Jay Galla, experienced a gain of over 32 per cent.
This rally is not limited to a few select companies but rather it is a broader phenomenon across various sectors.
Andhra Sugars, Avanti Feeds, Laurus Labs, Nelcast, Kallam Textiles, and Virat Crane Industries are among the many firms with their stock prices witnessing a surge after the TDP leader's victory.
From cement and sugar to hospitality and engineering, companies across diverse sectors are basking in the glow of investor enthusiasm, riding high on the wave of optimism generated by Naidu's triumph.
Heritage Foods
Heritage Foods, with its deep ties to the TDP through key stakeholder Nara Bhuvaneswari, wife of Chandrababu Naidu |
Heritage Foods, with its deep ties to the TDP through key stakeholder Nara Bhuvaneswari, wife of Chandrababu Naidu, has been a standout performer even before the election results. The shares of the company rose by over 6 per cent, halfway through the day's trade.
According to reports, the cumulative wealth of the Naidu family also jumped by a whopping Rs 1,225 crore in just under a fortnight or 12 day and is likely by the surge in the stock performance of the company.
Shares performance
The shares of KCP Limited on Monday, June 10 at 3:30 Pm IST closed at Rs 251.45, up by 0.94 per cent.
Similarly, Amara Raja Energy closed at Rs 1,402, up by 0.061 percent. Andhra Sugars ended the at Rs 114.50, a rise of 6.41 per cent.
Avanti Feeds stocks experienced a surge of 2.74 per cent, followed by Laurus Labs with 1.37 per cent surge.
Nelcast and Kallam Textiles went up by 4.91per cent and 2.67 per cent respectively to end the day on a positive note.
Virat Crane Industries stock price also increase 4.76 per cent, reaching Rs 78.32 to end the day in green.
