Significant Surge in Wealth for Chandrababu Naidu’s Family Amidst Heritage Foods’ Stock Rally

Summary: The wealth of Chandrababu Naidu’s family has surged significantly due to gains made by Heritage Foods, a company founded by Naidu. Following the recent Lok Sabha and Andhra Pradesh assembly elections, Heritage Foods’ stock rose by 55% in just five days, resulting in a ₹579 crore increase in Naidu’s wife, Nara Bhuvaneshwari’s wealth, and a ₹237.8 crore rise in their son Nara Lokesh’s net worth. Bhuvaneshwari, the top shareholder of Heritage Foods, holds 2,26,11,525 shares, while Lokesh holds 1,00,37,453 shares. The surge in stock value coincided with the TDP’s strong performance in the elections, winning 16 out of 17 seats it contested, contributing to the NDA’s overall victory.

New Delhi – In the wake of the recent Lok Sabha and Andhra Pradesh assembly elections, a notable surge in the fortunes of Chandrababu Naidu’s family has come to light, propelled by gains made by a company founded by the former Chief Minister. Heritage Foods, a company established by Naidu in 1992, has witnessed a remarkable 55% surge in its stock value over the past five days, leading to substantial gains for Naidu’s wife, Nara Bhuvaneshwari, and his son, Nara Lokesh.

The meteoric rise in Heritage Foods’ stock price has resulted in a staggering increase of ₹579 crore in Bhuvaneshwari’s wealth, who serves as a promoter of the company. The stock, which was trading at ₹424 just hours before the election results were announced on June 3, has now soared to ₹661.25.

Heritage Foods, described as “one of the fastest-growing public-listed companies in India” on its website, operates in two primary business divisions – dairy and renewable energy. Its products, including milk and milk-based items, hold a significant market presence across several states including Andhra Pradesh, Telangana, Karnataka, Kerala, and others.

Bhuvaneshwari holds a substantial stake in the company, possessing 2,26,11,525 shares, as per BSE data. Additionally, Naidu’s son, Nara Lokesh, is also a shareholder with 1,00,37,453 shares in Heritage Foods. The surge in the company’s stock has resulted in a significant increase of ₹237.8 crore in Lokesh’s net worth.

This financial upswing coincided with the Lok Sabha election results, where Naidu’s Telugu Desam Party (TDP) performed admirably, winning 16 out of the 17 seats it contested. The TDP’s success played a crucial role in the NDA’s victory, which secured 293 seats in the 543-member Lok Sabha. The BJP, however, fell short of its previous majority, securing only 240 seats, highlighting the importance of coalition politics in the current political landscape.