Wealth of Chandrababu Naidu’s wife increased by over 535 crores after Lok Sabha election results
Hyderabad: Shares of Heritage Foods, a company founded by Telugu Desam Party (TDP) leader Chandrababu Naidu, have surged dramatically following the party's strong showing in both the Lok Sabha and Andhra Pradesh assembly elections. Over the past five days, the company's shares have skyrocketed by 55%, resulting in a financial gain for Nara Bhuvaneshwari, Chandrababu Naidu's wife and a major promoter of the company.
On June 3, just hours before the election results were announced, Heritage Foods shares were trading at ₹424. As of today, the share price has reached ₹661.25. This remarkable rise has increased Nara Bhuvaneshwari's wealth by ₹579 crore. Bhuvaneshwari is the top shareholder of Heritage Foods, holding 2,26,11,525 stocks according to data from the Bombay Stock Exchange (BSE).
Chandrababu Naidu founded Heritage Foods in 1992. The company, which has a presence in various Indian states, operates in two main business divisions: dairy and renewable energy. Heritage Foods is described on its website as "one of the fastest growing public-listed companies in India," with products available in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh.
Nara Lokesh, Naidu's son, also benefits from the stock surge. Lokesh holds 1,00,37,453 shares of Heritage Foods, and his net worth has increased by ₹237.8 crore as a result of the recent rise in share prices.
The surge in Heritage Foods' stock price began shortly after the Lok Sabha election results started coming in on June 4. The TDP won 16 out of the 17 seats it contested, playing a crucial role in the National Democratic Alliance (NDA) securing a victory in the elections. The NDA won 293 seats in the 543-member Lok Sabha, with the BJP, which previously held a majority, securing only 240 seats, falling short of the 272 needed to form a government independently.
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Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
