Telugu Desam Party chief and Andhra Pradesh Chief Minister-designate Chandrababu Naidu's fortunes have turned around in no time after the recent Lok Sabha elections and the state assembly elections.
Stock of Heritage Foods, the dairy firm promoted by his family, has been hitting series of upper circuits after TDP became one of the key allies of the National Democratic Alliance 3.0 government.
The stock doubled in mere 12 sessions, thus leading to a windfall for the Naidu family.
Naidu's family has 35.7 percent stake in the company. His wife Bhuvaneswari has 24.37 percent stake, son Lokesh has 10.82 percent stake, daughter-in-law Brahmani has 0.46 percent stake.
What more, Naidu's 9-year-old grandson Devansh has 0.06 percent stake (56,075 shares) in the company, showed exchange data.
Looking at the 70 percent surge in the company in the last six sessions, Devansh's 56,075 shares are now Rs 4.1 crore as compared to Rs 2.4 crore on June 3.
Also, the family's wealth grew by a whopping Rs 1,100 crore within six trading sessions after the Heritage Foods' shares soared by another 10 percent on
June 10.
Cumulatively, their net worth rose Rs 1,110 crore to Rs 2,400 crore from Rs 1,319 crore a week ago.
On June 10, Heritage Foods' shares on NSE closed trading 5.2 percent higher at Rs 696 apiece after hitting an intraday high of Rs 727.35.
Heritage Foods, founded in 1992, is a leading value-added and branded dairy products player in India.
Heritage Foods' milk and milk products, such as curd, ghee, Paneer, flavoured milk, and immunity milk, among others, are consumed by more than 1.5 million households in 11 states across India, it claims.
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