New Delhi: The stunning performance of TDP in both the state and Lok Sabha polls significantly boosted the shares of Heritage Foods, the company founded by the party chief, Chandrababu Naidu, NDTV reported.
The shares have spiked 55 per cent in the last five days amassing ₹ 535 crore for Naidu's wife Nara Bhuvaneshwari, who is a promoter in the company.
Heritage Foods’s shares, trading at 24 hours before the results on June 3, have risen to 661.25.
Founded in 1992, Heritage Foods as its website claims is ‘ one of the fastest growing pulic-listed companies in India’, with two business divisions: dairy and renewable energy.
Heritage's milk and milk products are sold in states including Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand and Uttar Pradesh.
With 2,26,11,525 stocks, Nara Bhuvaneshwari is the top shareholder of the company and Naidu's son Nara Lokesh holds 1,00,37,453 shares of Heritage Foods, according to BSE data.
Lokesh's net worth also gone up by ₹ 237.8 crore with the TDP winning 16 of the 17 seats it contested in Lok Sabha alongside the party’s return to power in the state.