Nara Bhuvaneshwari is the top shareholder of the company and holds 2,26,11,525 stocks, according to BSE data.
In an extraordinary turn of events, Nara Bhuvaneswari, the wife of Telugu Desam Party (TDP) leader Chandrababu Naidu, saw a Rs 579 crore increase in her net worth in just five days. She holds a significant stake in the FMCG company Heritage Foods, whose outstanding performance is credited with this considerable growth.
She is the daughter of former Andhra Pradesh Chief Minister and Telugu Desam Party (TDP) supremo N T Rama Rao. NTR had 12 children - eight sons and four daughters. NT Rama Rao, popularly known as NTR was one of the tallest Telugu leaders. The actor-turned-politician was considered one of the most influential actors and filmmakers of Indian cinema. He died in 1996 at the age of 72, a few months after he was thrown out of power following a revolt led by his son-in-law Chandrababu Naidu.
However, Nara Bhuvaneshwari has so far chosen to stay away from politics; the only public role she occupies is as the managing director of Heritage Foods, a family-run company.
Chandrababu Naidu co-founded Heritage Foods, which had a sharp increase in stock price in the wake of the Lok Sabha election results, despite a general market collapse. In just five trading sessions, Heritage Foods' stock price shot up from Rs 402.90 per share on May 31, 2024, to an intraday high of Rs 659 per share. This surge resulted in a gain of Rs 256.10 per share.
Based on BSE data, Nara Bhuvaneshwari is the company's largest shareholder, owning 2,26,11,525 shares. Additionally, Nara Lokesh, the son of Mr. Naidu, owns 1,00,37,453 shares in Heritage Foods. After the stock shot up, Lokesh's net worth also rose by Rs 237.8 crore.
The meteoric rise started soon after the results of the Lok Sabha election were announced on June 4. The TDP played a key role in the NDA's election victory, taking 16 of the 17 seats it contested for.
In the 543-member Lok Sabha, the NDA secured 293 seats. Even though it had a comfortable majority in the last two administrations, the BJP only managed to gain 240 seats, well short of the 272 required to form a government.
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