.jpg "Heritage Foods Ltd, Backed by TDP, Continues Bull Run; Shares Surge 43%")
Shares of Heritage Foods Ltd, a company associated with TDP Chief Chandrababu Naidu, have extended their winning streak, hitting an upper circuit for another trading session. The stock has witnessed a remarkable surge, rising by over 43% in the last three sessions and over 55% in the last 10 days.
Founded in 1992 by Chandrababu Naidu, the Heritage Group encompasses the dairy, retail, and agri sectors under Heritage Foods. Nara Lokesh, Naidu’s son, is a key promoter of the company, as per exchange filings.
On Thursday, Heritage Foods shares soared over 10% to Rs 601.60, marking a second consecutive upper circuit, and boasting a market capitalization exceeding Rs 5,500 crore. The stock’s circuit filter was revised by the BSE in response to its significant gains.
In a bid to expand its product portfolio, Heritage Foods introduced a new range of pure ghee laddus branded ‘Truly Good’. Furthermore, Heritage Foods diversifies its operations into the cattle feed sector via its subsidiary, Heritage Nutrivet Limited (HNL).
The stock’s impressive performance has garnered attention on Dalal Street, particularly after the recent Andhra Pradesh assembly elections, where Chandrababu Naidu’s TDP emerged as a significant player.
With a promoter stake of 41.30% as of the March quarter, Heritage Foods counts Chandrababu Naidu’s wife, Nara Chandrababu Naidu, as a key stakeholder. Nara Lokesh, holding a 10.82% stake, and other family members also contribute to the company’s leadership.
In the last month alone, Heritage Foods shares have surged by over 89%, doubling investors’ wealth in the past year. The stock’s exceptional growth, up more than 150% in 2024 and nearly tripling in the last year, underscores investor confidence and market optimism surrounding the company’s prospects.
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