TDP leader Chandrababu Naidu's wife earns ₹579 crore in five days from this FMCG stock
Stock market news: The recent uptrend in Heritage Foods shares, which have been on the rise for the past five days, is one of the significant developments on Dalal Street. Despite the stock market crash following the disappointing Lok Sabha Election results on Tuesday, the FMCG stock remained resilient.
This resilience can be attributed to the shareholding pattern of Heritage Foods Ltd for the January to March 2024 quarter, where Nara Bhuvneshwari — wife of TDP leader Nara Chandrababu Naidu — owns a substantial 24.37 percent stake in the FMCG company. In the recent Heritage Foods share price rally, Nara Bhuvneshwari's net worth has surged by a staggering ₹579 crore in just five days.As a key promoter of Heritage Foods, Nara Bhuvneshwari, the wife of TDP leader Chandrababu Naidu, 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, indicates her strong influence on the company's decisions and performance, which in turn can impact the stock price.Also Read: Gold price jumps as weak US job data fuels US Fed rate cut buzz. Should you buy?After ending at ₹402.90 apiece on 31st May 2024, Heritage Foods share price has ascended for the last five straight sessions.
The FMCG stock ended higher even on Tuesday's stock market crash, which was due to disappointing Lok Sabha Election results. Heritage Foods share price today opened upside and touch an intraday high of ₹659 per share, which turned out a new lifetime high of the stock.
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