The 'TDP' stock, Heritage Foods Ltd., had its share price increase and close above the upper circuit throughout the trading session. The counter has gained more than 55% over the past ten days, while the stock has seen a strong rebound over the last three sessions, climbing more than 43%.
TDP Chief Chandrababu Naidu established the Heritage Group in 1992. Its flagship firm, Heritage Foods, comprises three business divisions: dairy, retail, and agribusiness. According to the company's exchange registration, one of Heritage Foods' promoters is Nara Lokesh, the son of N Chandrababu Naidu.
Heritage Foods' stock rose more than 10% to Rs 601.60 on Thursday, closing the day at an all-time high and commanding a market valuation of more than Rs 5,500 crore. On Monday, the share closed at Rs 546.95, up 20% for the day. The BSE updated the circuit filter for the firm.
The 'Truly Good' brand of pure ghee laddus was introduced by Heritage Foods. The food firm with its headquarters in Andhra Pradesh, Heritage Nutrivet Limited (HNL), is a subsidiary of the corporation, and it operates in the cattle feed industry. Heritage Foods' stock has increased by more than 95% in the past month, and during the previous year, investor wealth has almost doubled. The stock has increased by almost 150% so far in 2024, and in the past year alone, it has nearly tripled.
Investors on Dalal Street have been interested in Heritage Foods' shares since it became apparent that Chandrababu Naidu, the leader of the Telugu Desam Party (TDP), will probably take over as Andhra Pradesh's next chief minister after winning the recently held assembly elections.
One of the major stakeholders in Heritage Foods is Nara Chandrababu Naidu, the wife of Chandrababu Naidu, whose promoter interest was 41.30 percent at the end of the March quarter. At the conclusion of the March quarter, she had 2,26,11,525 shares, or 24.37 percent of Heritage Foods.
In addition, N Chandrababu Naidu's son Nara Lokesh is a promoter of Heritage Foods. As of March 31, Nara Lokesh owned 10.82 percent of Heritage Foods. Naidu's daughter-in-law Nara Brahmani controlled 0.46 percent of Heritage Foods, while her grandson Deevansh Nara held 0.06 percent.
