In a remarkable turn of events, TDP leader Chandrababu Naidu’s wife, Nara Bhuvaneshwari, made headlines by earning ₹579 crore in just five days from the stock of Heritage Foods. The FMCG stock witnessed a significant surge, despite the stock market crash that followed the Lok Sabha election results in June 2024. This surge can be attributed to Nara Bhuvaneshwari’s ownership of a 24.37% stake in Heritage Foods Ltd, amounting to 2,26,11,525 shares. As a key promoter of the company, her influence has played a crucial role in the company’s decisions and performance, leading to a noteworthy increase in the stock price. The stock, which closed at ₹402.90 per share on May 31, 2024, saw a remarkable growth over the next five consecutive trading sessions. On one such day, the stock even reached an intraday high of ₹659 per share, marking a significant milestone in its performance.
The impressive rise in Heritage Foods’ share price not only impacted Nara Bhuvaneshwari’s net worth but also boosted her son, Nara Lokesh’s financial standings. As Heritage Foods share continues to climb, experts predict further upside potential for investors. Sumeet Bagadia, Executive Director at Choice Broking, suggested that shareholders can consider holding the stock for a short-term target of ₹700, with a stop loss at ₹610. This positive outlook and the company’s growing trajectory have garnered significant attention in the stock market, making Heritage Foods a lucrative investment option.
Furthermore, bulk block deals involving Heritage Foods Ltd highlighted notable transactions by prominent firms. Graviton Research Capital LLP, HRTI Private Limited, and QE Securities LLP were among the key players involved in substantial buying and selling activities on the stock exchange. These transactions underscored the confidence and interest in Heritage Foods’ potential growth prospects, adding to the company’s overall market appeal. Amidst these developments, the surge in Nara Bhuvaneshwari’s net worth serves as a testament to the rewarding outcomes of strategic investments and market momentum, reflecting a compelling success story in the business landscape.