Heritage Foods’ stock reached a 52-week high of Rs 727.35 on June 10, following a significant transaction of Rs 319.60 crore. This big deal involved the exchange of 44 lakh shares, representing a 4.8% company stake, at an average price of Rs 725 each, a 10% premium.
At 11:06 AM, the shares traded at Rs 703.60 on the NSE, influenced by the large deal that saw a dramatic increase in trading volume, with 2 crore shares being traded compared to the average of 35 lakh shares over the past month.
The stock price of Heritage Foods has soared, doubling in just 12 sessions, driven by Chandrababu Naidu’s return to political power in Andhra Pradesh. Naidu’s family, major stakeholders in the company, includes his wife Bhuvaneswari Nara, and son Nara Lokesh.
Ownership details reveal that Bhuvaneswari Nara holds a 24.37% stake, while Nara Lokesh owns 10.82% of Heritage Foods as of March end for the fiscal year 2024. The company has benefited substantially from Naidu’s political resurgence.
This surge has brought Heritage Foods’ year-to-date gains to over 130%, marking its best annual performance since 2012 when the stock spiked over 230%. The current rally underscores a robust year for the dairy products company.
