Chandrababu Naidu’s family is ₹1,225 crore richer in 12 days as Heritage Foods up 100%
The family of Chandrababu Naidu witnessed a major rise in wealth as Heritage Foods shares saw a surge of over 105% in just 12 trading sessions. His family’s fortune has increased ₹1,225 crore as Heritage Foods shares hit a fresh 52-week high of ₹727.9 on the BSE. The stock closed at ₹354.5 on May 23 and has seen a rally from June 3 to June 10. In the company, Chandrababu Naidu’s family has a holding of 35.71% which is 3,31,36,005 shares.
Chandrababu Naidu’s son Nara Lokesh is a promoter of Heritage Foods and has a 10.82% stake as of March 31, 2024. Other promoters of the company include Chandrababu Naidu’s wife Bhuvaneshwari Nara and his grandchild Devaansh Nara who hold 24.37% and 0.06% stake, respectively. His daughter-in-law Nara Brahmani holds a 0.46% stake in Heritage Foods.
Owing to the surge in Heritage Foods, Bhuvaneshwari Nara’s wealth stands at ₹1631.6 crore and Nara Lokesh earned ₹724.4 crore with which the cumulative wealth of the family from Heritage Foods now totals ₹2,391 crore.
Heritage Foods stock has seen a surge following Chandrababu Naidu’s win in the assembly elections in which he defeated YSRCP’s Jagan Mohan Reddy. The company is one of India’s leading value-added and branded dairy products companies and has a presence in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL). Its milk and milk products are consumed by more than 1.5 million households in 11 states across India.
Meanwhile Chandrababu Naidu congratulated Narendra Modi for taking oath as the prime minister for the third consecutive term. He said in a post on X (formerly Twitter), “On behalf of the people of Andhra Pradesh, I congratulate Modi on being sworn in as the prime minister of India for a remarkable third consecutive term.”
He also congratulated all the newly sworn in NDA cabinet ministers and Ministers of State (MoS), adding, “May this ceremony mark the beginning of a new era of growth, development and prosperity for our nation.”
