TDP’s victory in Andhra Pradesh has sent shares of a company soaring. Shares of Heritage Foods, run by the family of TDP leader Nara Chandrababu Naidu, have seen a tremendous rise in the last six sessions. His shares have exceeded the upper circuit of 10 percent several times these days. This rise has forced the stock to surpass its all-time high. When the market opened on June 10, the share price of this company on NSE rose to Rs 727.35, showing a 100 per cent increase in the last one month.
Indian stock market experts have identified Heritage Foods stock as one of the best stocks in the consumer goods sector, which is expected to outperform other sectors. His experience and knowledge of the consumer goods equity market rally driven by a better-than-expected monsoon forecast is a key factor. The fact that the company is run by TDP leader Chandrababu Naidu’s family and the expected rise in consumption of FMCG products are also contributing to the rise in the stock.
Why are stock prices soaring?
The rise in Heritage Foods stock can be attributed to several factors. Avinash Gorakshkar, head of research at Profitmart Securities, has identified the better-than-expected monsoon forecast as an important factor. He says consumer durables and consumer goods stocks flourish only in such circumstances. Heritage Foods stock is benefiting from this forecast, and the company will also deliver strong quarterly numbers due to increased consumption of its products.
According to media reports, Avinash Gorakshkar believes the recent rise in multi-bagger shares can be attributed to the growing political power of the company’s promoter family after Indian voters elected Modi 3.0 to rule the country for the next five years. the mandate was given. However, he stressed that political power has no bearing on the company’s fundamentals and advised investors to make any investment decisions based on the company’s balance sheet.
Create positions with stop loss of Rs 610
When asked about the future of Heritage Foods stock, an expert said that given the substantial rise in the recent session, I recommend Heritage Foods shareholders to lock in 50 percent of the gains as the stock They are up 100 percent in a month. There has been an increase of more than Rs 100 per share, and the rest should maintain the stop loss at Rs 610 per share. Expert Anand Rathi advised new investors to avoid taking new positions in the shares of this consumer goods company led by Chandrababu Naidu.
Is it Chandrababu Naidu family company?
As per the chart pattern of Heritage Foods Limited from January to March 2024, Nara Chandrababu Naidu’s wife Nara Bhuvaneshwari holds 2,26,11,525 shares of the company, which is 24.37 percent of the total paid-up capital of the company . Chandrababu Naidu Nara Lokesh holds 1,00,37,453 shares in the company, which is 10.82 per cent of the total paid-up capital of the company.
