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Chandrababu Naidu's wife Nara Bhuvaneshwari earns ₹579 crore in 5 days from this stock
Chandrababu Naidu's wife Nara Bhuvaneshwari is a key promoter of the company and owns 2,26,11,525 Heritage Foods shares.
TDP leader Chandrababu Naidu's wife Nara Bhuvaneshwari earned ₹579 crore in just five days as the stock of Heritage Foods witnessed a massive rally. Although the stock market crashed following Lok Sabha election results, the FMCG stock posted gains due to the shareholding pattern of Heritage Foods Ltd as per which Nara Bhuvaneshwari owns 24.37 per cent stake in the company.
Read more: This dairy products stock zoomed 34% on TDP's landslide win in Andhra Pradesh
She is a key promoter of the company and owns 2,26,11,525 Heritage Foods shares which indicates her strong influence on the company's decisions and performance. This impacted the stock price of the company which was at ₹402.90 apiece on May 31, 2024.
Read more: These TDP-linked stocks rally up to 10%, extend recent gains. Here's why
In five sessions, Heritage Foods share price rose and ended higher even on Tuesday's stock market crash day. Heritage Foods share price today opened upside and touch an intraday high of ₹659 per share. In the last five straight sessions, Heritage Foods share price has surged by ₹256.10 per share.
Read more: Why stock market rose minutes after Chandrababu Naidu's statement?
This led to a significant increase in Nara Bhuvaneshwari's net worth at a time when newly elected MPs of the National Democratic Alliance (NDA) are meeting at the new Parliament House for the first time after the BJP-led alliance won the Lok Sabha election. Chandrababu Naidu's TDP emerged as a key party as the BJP failed to cross the halfway mark needed to form a government on its own. The NDA won 293 seats in the 543-member Lok Sabha- BJP secured 240 seats, way behind the 272 mark needed to form a government.
