Chandrababu Naidu’s recent decision to extend support to the NDA and the anticipated role in Andhra Pradesh has led to a significant surge in the shares of companies linked to the Telugu Desam Party (TDP). Shares of firms like Amara Raja Energy, Heritage Foods, and KCP have witnessed a remarkable rally in the past few days, reflecting the market’s positive response to Naidu’s political moves.
Amara Raja Energy and Mobility, managed by former TDP MP Jay Dev Galla, saw a substantial increase of 18.7% in just two days. The stock hit a new 52-week high of Rs 1,333, underscoring the investor confidence in the company’s future prospects.
On the other hand, Heritage Foods, a company where Naidu’s son Nara Lokesh serves on the board, experienced a notable 31% surge in its stock price. The company, known for its presence in dairy business and renewable energy, reached a fresh 52-week high, triggering an upper circuit at Rs 601.15.
Similarly, KCP observed a 13.56% rise after the TDP-JSP-BJP alliance led by Chandrababu Naidu secured a significant victory in Andhra Pradesh elections. The strategic location of KCP in Amravati, along with Naidu’s revival plans for the city, has positioned the company favorably in the market.
The market sentiment surrounding these TDP-related firms has been largely positive, with investors responding favorably to the political developments in Andhra Pradesh. As Naidu gears up to potentially take on the role of Chief Minister once again, the companies linked to TDP are witnessing a surge in their stock prices.
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