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Naidu Family’s Wealth Grows by Rs 858 Crore in Five Days

The recent political resurgence of the Telugu Desam Party (TDP) and its leader, Chandrababu Naidu, has not only positioned him as a key player in the coalition government but has also significantly impacted the fortunes of his family business, Heritage Foods, based in Hyderabad.

The value of Heritage Foods shares has seen a remarkable surge in the last five trading sessions, climbing by 64% from Rs 403 per share on May 31, 2024, to reach a 52-week high of Rs 662 per share on the following Friday. This surge translates to a staggering increase of Rs 858 crore in the wealth of Naidu’s family within just five days.

Looking back to May 13, 2024, the day of the Andhra Pradesh elections, when Heritage Foods shares closed at Rs 363 per share, the family’s wealth experienced a remarkable rise of nearly Rs 989 crore in less than a month, driven by an 82% increase in the share price during this period. The calculation is based on the family’s substantial 35.7% stake in the dairy company.

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Naidu’s wife, Nara Bhuvaneswari, who serves as the Managing Director of the company, holds a significant 24.4% stake, while his son, Nara Lokesh, is the second-largest shareholder with nearly 10.8%. Other family members, including Naidu’s daughter-in-law, Nara Brahmani (0.5%), and grandson, Devaansh Nara (0.1%), hold smaller stakes in the company, all totaling less than 1%.

The surge in share prices has propelled the company’s market capitalization from Rs 3,371 crore on May 13 to Rs 3,738 crore on May 31, the eve of the exit polls, and further to Rs 6,141 crore on the subsequent Friday. This represents an increase of over Rs 298 and Rs 259 per share respectively compared to the prices on May 13 and May 31.

Naidu’s TDP secured 16 seats in the Lok Sabha elections and 135 seats in the Andhra Pradesh assembly elections, solidifying his political influence and coinciding with the notable upturn in his family’s business fortunes.

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