Shares of Heritage Foods are making waves these days. Shares of Heritage Foods rose 10% on Monday to Rs. 727.90 was reached. The company’s stock has doubled people’s money in just 12 days. Heritage Foods shares have jumped 100% in 12 days. On May 23, 2024, the shares of the company were Rs. closed at 354.50. Shares of Heritage Foods on June 10, 2024 at Rs. 727 has been crossed. Shares of the company have seen an increase of almost 70% in 5 days. Heritage Foods is directly related to Chandrababu Naidu, who is going to become the Chief Minister of Andhra Pradesh for the fourth time.
Heritage Foods gets a big boost due to TDP’s big win
Heritage Group was started in the year 1992 by Telugu Desam Party (TDP) chief Nara Chandrababu Naidu. Now that Chandrababu Naidu is once again going to be the Chief Minister in Andhra Pradesh, this whole development has given a big boost to Heritage Foods. Heritage Foods is in 3 businesses – Dairy, Retail and Agriculture. Shares of Heritage Foods have gained 95% in the last 8 trading sessions since May 29. The company’s stock hit a 52-week high of Rs. 727.90 is. At the same time, shares of Heritage Foods hit a 52-week low of Rs. is 207.20.
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A profit of over 1200 crores
Chandrababu Naidu’s wife Bhuvaneshwari Nara and her son Nara Lokesh own 24.37% and 10.82% stake in Heritage Foods respectively. The data is up to the end of the March 2024 quarter. On May 23, 2024, Bhuvaneshwari Nara and Nara Lokesh’s stake in the company was valued at Rs. was more than 1100 crores. After the recent surge in Heritage Foods shares, its stake value has risen to over Rs 2300 crore. So far this year, shares of Heritage Foods are up nearly 140%. At the same time, over the past one year, Heritage Foods shares have seen an increase of over 235%.
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