How Lok Sabha election results also helped indirectly to Chandra Babu Naidu’s wife in growth of her networth.
Stock market crashed after the Lok Sabha election results but it still benefited the wife of one of the politicians. Chandrababu Naidu who is the key player in the NDA government is also a businessman. TDP in alliance with the Jana Sena Party and BJP, won 16 seats in the Lok Sabha election from Andhra Pradesh. In the Assembly polls, it emerged as the leader with 135 seats. It not only played a crucial role in Naidu’s political career but also helped him indirectly in his business.
The Heritage Foods shares saw an uptick in the last 5 days after Lok Sabha results were declared. Nara Chandrababu Naidu, who is Wife of TDP leader, N Chandrababu Naidu, owns a 24.37 percent stake in the FMCG company. After the Lok Sabha & Andhra Pradesh assembly election results share price for Heritage Foods climbed high, so Nara Bhuvneshwari (Naidu)’s net worth also surged by ₹579 crore in just five days.
Nara Bhuvneshwari Naidu’s Net Worth
Nara Bhuvneshwari, is a key promoter of Heritage Foods who holds a substantial stake in the company. Her ownership of 2,26,11,525 Heritage Foods shares, which is a significant 24.37 percent of the total paid-up capital of the company. As she is a wife of N Chandrababu Naidu, after his massive victory in Assembly and Lok Sabha election, shares of the company linked to his acquaintance also climbed. As she has a strong influence on the company’s decisions and performance, it started impacting the stock price.
Nara Lokesh, the son of N Chandrababu Naidu, is also one of Heritage Foods promoters. Nara Lokesh had 10.82 per cent stake in Heritage Foods as on March 31. Nara Brahmani, Naidu’s daughter-in-law, held 0.46 per cent while grandson Deevansh Nara also held 0.06 per cent in Heritage Foods.
The Heritage Group was founded in 1992 by TDP Chief Chandrababu Naidu, it has three divisions- dairy, retail and agri. Nara Lokesh, the son of N Chandrababu Naidu, is one of the promoters of Heritage Foods, according to the exchange filing of the company.
Shares of Heritage Foods rose by 10 per cent to Rs 601.60 in Thursday morning session, and hit an upper circuit for a second straight session.