In a remarkable financial upturn, the family of Chandrababu Naidu experienced a substantial increase in their wealth, thanks to a surge in the shares of Heritage Foods. Throughout just 12 trading sessions, the stock price of Heritage Foods soared by more than 105% leading to a significant boost in the family’s fortune. The shares of Heritage Foods hit a new 52-week high of ₹727.9 on the Bombay Stock Exchange (BSE) compared to their closing price of ₹354.5 on May 23. This dramatic rise in share value between June 3 and June 10 increased to ₹1,225 crores in the family’s net worth.
Chandrababu Naidu family holds a 35.71% stake in Heritage Foods amounting to 3,31,36,005 shares. His son Nara Lokesh, is one of the promoters of the company and holds a 10.82% stake as of March 31, 2024. Other significant stakeholders in the company include Chandra Babu Naidu’s wife Bhuvaneshwari Nara with a 24.37% stake and his grandchild Devaansh Nara who holds a 0.06% stake. Additionally, Nara Brahmani Naidu’s daughter-in-law owns a 0.46% stake in Heritage Foods.
The surge in Heritage Foods’ stock has notably increased the individual net worth of Chandrababu Naidu’s family members. Bhuvaneshwari Nara’s wealth now stands at ₹1,631.6 crores, while Nara Lokesh’s holdings are valued at ₹724.4 crores. Collectively the family’s total wealth from Heritage Foods has reached ₹2,391 crores.
Heritage Foods:- a leading company in India’s value-added and branded dairy products sector has seen its stock surge following Chandrababu Naidu’s victory in the assembly elections where he triumphed over YSR Congress Party’s Jagan Mohan Reddy. The company also operates in the cattle feed business through its subsidiary Heritage Nutrivet Limited (HNL) and serves more than 1.5 million households across 11 states in India.
In addition to the financial news, Chandrababu Naidu extended his congratulations to Narendra Modi for being sworn in as the Prime Minister of India for the third consecutive term. Naidu expressed his well wishes on social media stating, “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 the newly appointed members of the National Democratic Alliance (NDA) cabinet hoping for a new era of growth and prosperity for the nation.
This remarkable surge in Chandrababu Naidu’s net worth highlights the significant impact of political events and market dynamics on personal wealth particularly within influential families and their business interests.
