TDP Leader Chandrababu Naidu's Heritage Foods Share Soar; Upto 100% In 12 Sessions (Image: @ X N Chandrababu Naidu)

The share price of Heritage Foods, a family-run business led by TDP leader Chandrababu Naidu’s family, has seen an extraordinary surge in the past month. The price has risen from ₹343 to ₹727.35 per share on the NSE, marking a remarkable 100% increase.

Market experts have identified Heritage Foods shares as a standout in the FMCG sector, which is expected to outperform other segments. This surge can be attributed to a better-than-expected monsoon forecast and the anticipated increase in consumption of  FMCG products. Notably, the company is led by TDP leader Chandrababu Naidu’s family. As of January, to March 2024, Nara Bhuvneshwari, Nara Chandrababu Naidu’s wife, owns 24.37% of the company’s total paid-up capital, while Nara Lokesh owns 10.82%, according to the reports.

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Avinash Gorakshkar, Head of Research at Profitmart Securities, attributes the rally in Heritage Foods shares to the better-than-expected monsoon forecast, which tends to benefit FMCG and consumer durable stocks. Despite the rising political influence of the company’s promoter family, it’s advised to make investment decisions based on the company’s balance sheet and thorough analysis, according to Avinash Gorakshkar.

Looking ahead, Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested that Heritage Foods shareholders secure 50% profit and retain the rest, with a stop loss at ₹610 apiece due to the substantial rise in recent sessions. New investors are advised to avoid taking a new position in this stock.

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