Naidu stock: Heritage Foods shares rise 89% in a month; hits another upper circuit

Shares of Heritage Foods Ltd, a 'TDP' stock, extended its gains and hit an upper circuit for another trading session. The stock has posted a sharp rally in the last three sessions, rising more than 43 per cent, while the counter is up more than 55 per cent in the last 10 days.

The Heritage Group was founded in 1992 by TDP Chief Chandrababu Naidu, with three-business divisions- dairy, retail and agri -under its flagship company Heritage Foods. Nara Lokesh, the son of N Chandrababu Naidu, is one of the promoters of Heritage Foods, says the exchange filing of the company.

Shares of Heritage Foods jumped more than 10 per cent to Rs 601.60 on Thursday, hitting an upper circuit for a second straight session, and commanding a market capitalization of more than 5,500 crore. The scrip had settled at Rs 546.95 on Monday, up 20 per cent for the day. The circuit filter for the company was revised by the BSE.

Heritage Foods launched a new range of pure ghee laddus under the brand name 'Truly Good'. The Andhra Pradesh based food company has a presence in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL)

In the last one month, shares of Heritage Foods have rallied more than 89 per cent, while the counter has nearly doubled investors wealth in the last one year. The stock has surged more than 150 per cent in the year 2024 so far, while the stock nearly tripled in the last one year.

Heritage Foods' shares have been drawing the attention of investors on Dalal Street after it became clear that Telugu Desam Party (TDP) leader Chandrababu Naidu is likely to become new Chief Minister of Andhra Pradesh he swept the recently concluded assembly elections.

Heritage Foods, whose promoter stake stood at 41.30 per cent at the end of March quarter, has Nara Chandrababu Naidu, 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.