On March 15, before the Election Commission of India released the dates for the general elections, the shares of Heritage Foods were trading at around ₹327.75.
Shares of the relatively unknown Telugu Desam Party-related firm reached a historic high on Thursday, surging 83 per cent to ₹601.6, with Nara Chandrababu Naidu poised to assume office as the next chief minister of Andhra Pradesh and gearing up to play a crucial role at the Centre as a National Democratic Alliance ally.
With Naidu's return to power, the fortunes of this Hyderabad-based company, with a market capitalisation of ₹5,582 crore, are expected to soar in the coming days, with analysts predicting it could even surpass the ₹800 mark.
Interestingly, it was Naidu himself who founded Heritage Foods way back in 1992, and it has since become one of the fastestgrowing integrated dairy companies, with a presence in renewable energy as well.
Of the total promoter stake of 41.3 per cent in the company, Naidu's wife Bhuvaneswari holds 24.37 per cent, his son Lokesh around 10.82 per cent, daughter-in-law Brahmani around 0.46 per cent, and his 10year-old grandson Devansh another 0.06 per cent, among others.
هذه القصة مأخوذة من طبعة June 07, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة June 07, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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