Heritage Foods at new high, again

If the Adani group stocks were about Modi, Heritage Foods is about Chandrababu Naidu.

The stock surged 20% yesterday to a 52-week high of Rs.546.95 on the BSE. In fact it has been hitting new highs since past few days. Today too, it opened 8.5% higher at Rs.592.95 and went on to hit a new high at Rs.601.60. A month ago, on 6th May, it was trading at Rs.330.

In the new NDA Govt to be formed, Chandrababu’s TDP holds a strong place - TDP has emerged as the second-largest constituent of the National Democratic Alliance led by Prime Minister Narendra Modi. And he is all set to become the CM of Andhra Pradesh for the fourth time.

The company was founded in 1992 by Mr.Naidu with friends and associates and through family members holds a 41.30% stake in the company in which his wife, Bhuvaneshwari Nara holds 24.37%. It is one of the leading dairy players. It recently introduced a new range of pure ghee laddus under Truly Good brand name as well as an ice-cream range besides launching new packaging formats for its farm fresh UHT milk and GlucoShakti whey-based energy drink.