New Delhi2 minutes ago
- copy link
The promoter of Heritage Foods is Nara Lokesh, son of party chief Chandra Babu Naidu. (File photo: Chandra Babu Naidu)
The wealth of Chandrababu Naidu family has increased by Rs 858 crore in the last 5 days alone. According to media reports, this has happened due to a 55% jump in the shares of Heritage Foods during this period. The promoter of Heritage Foods is Nara Lokesh, son of party chief Chandra Babu Naidu. Chandrababu Naidu will take oath as the Chief Minister of Andhra Pradesh on June 12.
Heritage Group was founded in 1992 by Chandrababu Naidu. This company works in dairy, retail and agri segments. TDP chief Chandrababu Naidu has had a stellar performance in the recently held Andhra Pradesh Assembly and Lok Sabha elections. This has increased the confidence of investors in his company.
Chandra Babu Naidu wife has the highest stake in the company
Chandrababu Naidu’s wife Bhuvaneshwari holds 24.37% stake in the company. While son Lokesh and daughter-in-law Brahmani hold 10.82% and 0.46% stake. Naidu’s grandson Devansh holds 0.06% stake in it. That means Chandrababu Naidu’s family’s total stake in the company is 35.71%.
Heritage Foods shares rose 10% on Friday
On Friday, June 7, shares of Heritage Foods closed at Rs 661.25 with a rise of 10%. There has been a rise of 55% in the last 5 days. On June 4, the share of Heritage Foods was at Rs 455.45, which reached Rs 661.25 on June 7.
Heritage Foods’ market cap increased by more than Rs 2,400 crore
The market cap of Heritage Foods has increased by more than Rs 2,400 crore this week. The market cap of the company became Rs 6,136 crore on June 7. It was Rs 3,700 crore a week ago.
Chandrababu Naidu will take oath as Chief Minister on June 12.
Telugu Desam Party (TDP) president N Chandrababu Naidu will take oath as the Chief Minister of Andhra Pradesh on June 12. He is going to become the Chief Minister of the state for the fourth time. Earlier, he had taken oath as CM on 1 September 1995, 11 October 1999 and 8 June 2014.
In 2019, YSRCP President Jagan Mohan Reddy wrested power from him by registering victory. In this Lok Sabha election also, TDP has won 16 seats. TDP has given its support to NDA. That means he will also be a part of the central government.
