The wife of TDP leader Chandrababu Naidu makes ₹584 crore from this FMCG stock in just five days.

Heritage Foods share price: The primary promoter of this FMCG company is Nara Bhuvneshwari, the wife of TDP politician Nara Chandrababu Naidu.

Share price of Heritage Foods: Despite the stock market meltdown brought on by the unexpected Lok Sabha election results, the FMCG company’s stock closed higher on June 4.

News on the stock market: The last five days have seen a notable increase in the share price of Heritage Foods, which is one of the important stock-specific happenings on Dalal Street. Fast-moving consumer goods (FMCG) stocks held up well in the wake of the unexpected Lok Sabha election results on June 4, even as the stock market crashed.

This resilience can be linked to Heritage Foods Ltd.’s shareholding pattern for the quarter ending in January 2024. The wife of Telugu Desam Party (TDP) leader Nara Chandrababu Naidu, Nara Bhuvneshwari, holds a sizeable 24.37 percent share in the FMCG company. Nara Bhuvneshwari’s net worth has increased by an astounding ₹584 crore in just five days during the most recent Heritage Foods share price boom.

Increase in the net worth of Nara Bhuvneshwari

Nara Bhuvneshwari, the wife of TDP head Chandrababu Naidu, is a significant promoter of Heritage Foods. With 2,26,11,525 shares, or 24.37 percent, of the company owned, she has significant control over the decisions and performance of the business, which can impact the stock price.

For the past five sessions in a row, the share price of Heritage Foods has increased after closing at ₹402.90 apiece on May 31, 2024. Even with Tuesday’s stock market meltdown, the FMCG stock finished higher. The share price of Heritage Foods opened higher today and reached a new lifetime high of ₹661.25 per share during the intraday trading session. The FMCG stock touched 10% of its upper circuit on its ascent to this new peak. Thus, the share price of Heritage Foods has increased by ₹258.35 per share over the last five sessions in a row.

Given that Nara Bhuvneshwari owns 2,26,11,525 shares of Heritage Foods, the company’s recent price increase has significantly increased her net worth. Her net worth has increased dramatically as a result of the rally, by an astounding ₹5,84,16,87,483.75 or ₹584 crore.

The share price of Heritage Foods perspective

Sumeet Bagadia, Executive Director at Choice Broking, expressed optimism for further gains in Heritage Foods shares, saying, “The FMCG stock has made a strong base at ₹610 whereas the scrip is facing a hurdle at ₹700.” The scrip of Heritage Foods can be held by shareholders with a stop loss at ₹610 in order to achieve the short-term goal of ₹700.”

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