Heritage :
Vijayawada: June 7: In a remarkable turn of events, Nara Bhuvaneshwari, wife of Telugu Desam Party (TDP) chief N Chandrababu Naidu, has reportedly amassed a staggering Rs 579 crore within just five days. This financial windfall is attributed to the impressive rally in the share price of Heritage Foods, despite a broader market downturn.
As a principal promoter of Heritage Foods, Bhuvaneshwari holds a significant stake of 24.37 per cent in the company, translating to 2,26,11,525 shares. The company’s share price, which was Rs 402.90 on May 31, 2024, soared to an intraday high of Rs 659 per share, marking a new lifetime high.
This extraordinary increase in the share price has significantly boosted Bhuvaneshwari’s net worth, underscoring the impact of key stakeholders on the company’s performance and strategic decisions. The stock’s resilience, particularly in the aftermath of the Lok Sabha election results, reflects the market’s confidence in Heritage Foods’ growth prospects and management effectiveness.
Market analysts are closely monitoring this development, as it may have far-reaching implications for the Fast-Moving Consumer Goods (FMCG) sector and stock market dynamics. Investors and shareholders of Heritage Foods are keenly awaiting the company’s next strategic moves, as it continues to garner attention with its robust market performance.