Chandrababu Naidu family- run Heritage Foods shares jump 56, promoters richer by Rs 870 crore
Naidu's son Nara Lokesh and woman Bhuvaneshwari Nara are the pivotal promoters of Heritage Foods
Through the rise of Telugu Desam Party (TDP) leader Chandrababu Naidu as a major player in public politics and his party's resounding win in the Andhra Pradesh assembly choices, investors have turned to Heritage Foods Limited shares, which are backed by the Naidu family
Members of his family, particularly the two major stakeholders, Nara Lokesh and Bhuvaneshwari Nara, have served greatly from the stock's 56 gain this week, which has increased their wealth by nearly Rs 870 crores during the last five trading sessions.
Heritage Foods' stock shot over 10 on Friday, closing at Rs 661.75 a share.
Naidu's son is Nara Lokesh.
On March 31, 2024, Nara Lokesh controlled around 11 of the company's equity, while Bhuvaneshwari Nara held24.37, according to data accessible on the BSE. was held by the promoter group as a whole.
On March 31, 2024, Nara Lokesh controlled around 11 of the company's equity, while Bhuvaneshwari Nara held24.37, according to data accessible on the BSE. was held by the promoter group as a whole.
This includes a 6 stake through the two directors, the ma and the son, of Mega shot Finance and Investment Private Limited.
HISTORY
The Telugu Desam Party Chief and former Andhra Pradesh Chief Minister, Shri Nara Chandrababu Naidu, founded the Heritage Group in 1992. Its flagship company, Heritage Foods Limited (HFL), has three business divisions Dairy, Retail, and Agri; it also has one structure attachment, Heritage Infra Developers Limited; and other associate companies, Heritage Finlease Limited, Heritage International Limited, and Heritage Agro Marine Private Limited. During FY 2008 – 09, the yearly development surpassed$ 200 million USD
Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Maharashtra, Delhi, Rajasthan, and Punjab are among the countries where Heritage's milk products are sold. It operates retail locales in Visakhapatnam, Hyderabad, Chennai, and Bengaluru. The core of retail exertion is comprised of integrated agro enterprises located in the sections of Chittoor and Medak.
Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Maharashtra, Delhi, Rajasthan, and Punjab are among the countries where Heritage's milk products are sold. It operates retail locales in Visakhapatnam, Hyderabad, Chennai, and Bengaluru. The core of retail exertion is comprised of integrated agro enterprises located in the sections of Chittoor and Medak.
HFL raised finances through a public sacrifice in 1994, which was 54 times oversubscribed. The company's shares are now traded on the BSE (Stock Code 519552) and NSE (Stock Code HERITGFOOD). (3)
PRODUCT
Among the dairy products offered by Heritage are skim milk cream, seasoned milk, ice cream, curd, and buttermilk. 150 SKUs of in- house burned goods, 177 SKUs of fresh fruits and vegetables, and the private labels farmers' Pride, which include cereals, beats, basics, and spices, are all part of the fresh product line.
