TDP’s Naidu family’s wealth up Rs 858 crore in 5 days as stock rallies


HYDERABAD: The political revival of Telugu Desam Party (TDP) and its chief (*5*) Naidu, who has emerged kingmaker in the coalition govt, has additionally boosted the fortunes of his household that runs Hyderabad-based dairy participant Heritage Foods.
With the Heritage Foods scrip gaining 64% during the last 5 buying and selling classes from Rs 403 a share final Friday (May 31, 2024) to hit a 52-week excessive of Rs 662 per share on Friday, the wealth of his household has surged by Rs 858 crore in 5 days.
However, when one compares his family’s wealth primarily based on the scrip’s closing worth of Rs 363 a share on May 13, 2024, the day votes had been forged in Andhra Pradesh, it has shot up by almost Rs 989 crore in the span of lower than a month as the scrip gained 82% through the interval.
These figures are primarily based on the 35.7% stake shares held by Naidu’s household in the dairy firm.
While Naidu’s spouse Nara Bhuvaneswari, who helms the corporate as MD, holds 24.4% stake in the corporate, Naidu’s son Nara Lokesh is the second-biggest shareholder from the household with almost 10.8%.
The different members of the family, all of whom maintain lower than 1% stake in the corporate, embody Naidu’s daughter-in-law Nara Brahmani (0.5%) and his grandson Devaansh Nara (0.1%).
The surge in the share costs has despatched the corporate’s market capitalisation hovering from Rs 3,371 crore on May 13 to Rs 3,738 crore on May 31, a day earlier than the exit polls, on to Rs 6,141 crore on Friday as the Heritage Foods scrip gained by over Rs 298 and Rs 259 a share respectively as in comparison with its May 13 and May 31 costs.
Naidu’s TDP bagged 16 seats in the Lok Sabha elections and 135 seats in the Andhra Pradesh meeting elections.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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