In a stunning financial turn of events, the stock of Heritage Foods, a company promoted by the family of TDP chief Chandrababu Naidu, has skyrocketed by 55% over the past five days. This surge follows Naidu’s decisive victory in the Andhra Pradesh assembly and Lok Sabha elections, propelling the company’s market valuation and significantly increasing the family’s net worth.
Founded in 1992, Heritage Foods has established itself as a leading player in the value-added and branded dairy products market in India. The company boasts a wide range of products including milk, curd, ghee, paneer, flavored milk, and the innovative immunity milk, all of which are consumed by over 1.5 million households across 11 states in India.
The company’s stock was trading at Rs 424 on June 3, shortly after exit polls indicated a sweeping win for Naidu’s Telugu Desam Party (TDP). Since then, the stock has soared, closing at an all-time high of Rs 661.25 on June 7, marking an extraordinary rise in just five trading sessions.
This bullish phase has catapulted the market capitalization of Heritage Foods by over Rs 2,400 crore, from Rs 3,700 crore to Rs 6,136 crore. The Naidu family’s 35.7% stake in the company, as per exchange data, has seen a significant boost in value. His wife, Bhuvaneswari, holds a 24.37% stake, while his son Lokesh and daughter-in-law Brahmani hold 10.82% and 0.46%, respectively. Even his grandson Devansh has a 0.06% stake in the dairy company.
Collectively, the Naidu family’s net worth has surged by Rs 870 crore, escalating from Rs 1,319 crore to Rs 2,190 crore within a week. On June 7, Heritage Foods’ shares on the NSE closed 10% higher at Rs 661.25 apiece, further cementing the financial upliftment.
