Chandrababu Naidu’s family saw a significant increase in wealth due to a rapid surge in Heritage Foods shares, which rose by more than 105% in just 12 trading sessions. The family’s fortune grew by ₹1,225 crore as Heritage Foods shares reached a new 52-week high of ₹727.9 on the BSE. The stock had closed at ₹354.5 on May 23 and has experienced a rally from June 3 to June 10. Chandrababu Naidu’s family holds a 35.71% stake in the company, which translates to 3,31,36,005 shares.
Nara Lokesh, Chandrababu Naidu’s son, is a promoter of Heritage Foods and holds a 10.82% stake in the company as of March 31, 2024. Other promoters of the company include Chandrababu Naidu’s wife, Bhuvaneshwari Nara, who holds a 24.37% stake, and his grandchild, Devaansh Nara, who holds a 0.06% stake. Additionally, his daughter-in-law, Nara Brahmani, holds a 0.46% stake in Heritage Foods.
Also Read: PM’s First Order In Third Term: Approves Release Of PM Kisan Nidhi Funds
Due to the surge in Heritage Foods, Bhuvaneshwari Nara’s wealth has reached ₹1,631.6 crore, while Nara Lokesh has earned ₹724.4 crore. This brings the cumulative wealth of Chandrababu Naidu’s family from Heritage Foods to a total of ₹2,391 crore.
The surge in Heritage Foods stock followed Chandrababu Naidu’s victory in the assembly elections, where he defeated YSRCP’s Jagan Mohan Reddy. Heritage Foods is a prominent player in India’s value-added and branded dairy products sector. The company also operates in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL). Its milk and milk products are widely consumed, serving over 1.5 million households across 11 states in India.
Also Read: Jammu And Kashmir Attack: Pakistan-Backed Militant Group Claims Responsibility For Bus Firing
