Summary: The recent election victories of the Telugu Desam Party (TDP) have significantly increased the wealth of Chandrababu Naidu’s family. Shares of Heritage Foods, founded by Naidu, surged 55% in five days, boosting his wife Nara Bhuvaneshwari’s net worth by ₹535 crore. The stock rose from ₹424 to ₹661.25 after the election results. Bhuvaneshwari holds over 2.26 crore shares, and their son Nara Lokesh’s wealth also grew by ₹237.8 crore due to his 1 crore shares. The TDP’s strong performance, winning 16 of 17 contested seats, was key in helping the NDA secure a majority in the Lok Sabha.
New Delhi: The recent election victories of the Telugu Desam Party (TDP) have brought significant financial gains for the family of its leader, Chandrababu Naidu. The shares of Heritage Foods, a company founded by Naidu, have surged by 55% over the past five days. This sharp rise has increased the net worth of Naidu’s wife, Nara Bhuvaneshwari, by ₹535 crore.
Before the election results were announced on June 3, Heritage Foods’ stock was trading at ₹424. As of today, the shares have climbed to ₹661.25. Heritage Foods, established by Naidu in 1992, is described on its website as “one of the fastest growing public-listed companies in India,” with business divisions in dairy and renewable energy. The company has a market presence in several states, including Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh.
Nara Bhuvaneshwari, who is a prominent shareholder in Heritage Foods, holds 2,26,11,525 shares, according to data from the Bombay Stock Exchange (BSE). Her son, Nara Lokesh, owns 1,00,37,453 shares. The rise in Heritage Foods’ stock has also boosted Lokesh’s net worth by ₹237.8 crore.
The substantial increase in the company’s stock value began shortly after the Lok Sabha election results were revealed 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 majority. The NDA won 293 seats in the 543-member Lok Sabha, while the Bharatiya Janata Party (BJP), which had a majority in the previous two terms, secured 240 seats, falling short of the 272 seats needed to form a government independently.
This financial boost highlights the significant impact of political success on business fortunes, especially in companies closely tied to political figures. Heritage Foods’ remarkable stock performance showcases the interconnected nature of politics and business in India.
