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Chandrababu Naidu's family's wealth surges Rs 1,225 crore as Heritage Foods shares double in 12 days

N Chandrababu Naidu's family has seen a significant rise in wealth, with Andhra Pradesh-based Heritage Foods shares experiencing a remarkable surge over the past 12 trading sessions. This surge has translated into a staggering increase of Rs 1,225 crore in the family's fortune.
 

Chandrababu Naidu's family's wealth surges Rs 1,225 crore as Heritage Foods shares double in 12 days gcw
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First Published Jun 10, 2024, 3:59 PM IST

The shares of Heritage Foods surged by more than 105% in just 12 trading days, resulting in a significant increase in wealth for the Chandrababu Naidu family. A new 52-week high of Rs 727.9 for Heritage Foods shares on the BSE has raised his family's wealth by Rs 1,225 crore. On May 23, the stock finished at Rs 354.5. From June 3 to June 10, there was a surge in the stock. The family of Chandrababu Naidu owns 3,31,36,005 shares, or 35.71%, of the corporation.

As of March 31, 2024, Chandrababu Naidu's son Nara Lokesh has a 10.82% share in Heritage Foods, which he promoted. Bhuvaneshwari Nara, the wife of Chandrababu Naidu, and his grandson Devaansh Nara, who own 0.06% and 24.37% of the firm, respectively, are additional promoters. His daughter-in-law Nara Brahmani holds a 0.46% stake in Heritage Foods.

Due to the growth of Heritage Foods, the family's total wealth from Heritage Foods is currently Rs 2,391 crore, with Bhuvaneshwari Nara's fortune standing at Rs 1631.6 crore and Nara Lokesh earning Rs 724.4 crore.

Following Chandrababu Naidu's victory over YSRCP candidate Jagan Mohan Reddy in the assembly elections, Heritage Foods' stock has experienced a significant increase. The firm, which is among the top producers of branded and value-added dairy products in India, is also involved in the cattle feed industry through Heritage Nutrivet Limited (HNL), a subsidiary. In 11 states around India, about 1.5 million families eat its milk and milk products.

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.” 

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