A handful of companies, with registered offices in Andhra Pradesh, saw their stocks climbing up to 23 per cent since election results on June 4. The stocks gained amid positive sentiment, as TDP's Chandrababu Naidu, whose party won 16 Lok Sabha seats, is likely to play a key role in the formation of the next government at Centre. Besides, he would be assuming the role of Chief Minister of the state on June 12.
Amara Raja Energy & Mobility Ltd, whose registered office is in Tirupati, climbed 23 per cent since June 4 and hit a high of Rs 1,332.75 level today. Its MD Galla Jayadev (Jay Galla) is a former TDP Parliamentary Party Leader. Galla, a two-time MP, did not contest Lok Sabha elections this time.
The Andhra Sugars, whose registered office is in Venkatarayapuram, West Godavari District, has risen 11 per cent in the two sessions to Rs 105 level. Avanti Feeds Ltd and Laurus Labs Ltd -- both of which have their registered offices in Vishakhapatnam, as per corporate database AceEquity, saw their shares rallying post elections.
Avanti Feeds was up 7.88 per cent at Rs 564.70 in Thursday's trade. At day's high of Rs 567.50, this stock was up 15 per cent since June 4 closing. Laurus Labs is up 9 per cent in the two-day running.
Nelcast Ltd and Kallam Textiles Ltd have registered offices in Gudur, Tirupati district. Kallam Textiles has rallied 10 per cent while castings and forgings company Nelcast advanced 9 per cent during the same period.
Guntur-registered companies Virat Crane Industries Ltd, Andhra Cements Ltd and Crane Infrastructure Ltd also saw their shares rising, and so Manoj Vaibhav Gems 'N' Jewellers Ltd, Andhra Petrochemicals Ltd and Apex Frozen Foods Ltd that are registered in the state.
Meanwhile, shares of Heritage Foods shares climbed 10 per cent to hit a high of Rs 601.60. This stock has been rallying even before exit polls. In four-day rally, the stock is up a strong 49 per cent. Heritage Foods, whose promoter stake stood at 41.30 per cent at the end of March quarter, has Nara Bhuvaneswari, the wife of Chandrababu Naidu, as key stakeholder. She owned 2,26,11,525 shares or 24.37 per cent stake in Heritage Foods at the end of March quarter.
Besides, 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. Naidu's strong show in Andhra Pradesh has had a sentimental impact of this counter.