New Delhi: TDP supremo Chandrababu Naidu’s return to power in the Andhra Pradesh Assembly and his re-emergence as a key player in national politics after the June 4, 2024 Lok Sabha election results have resulted in a windfall for some stocks such as milk producer Heritage Foods and battery maker Amara Raja after the stock market settled down following the steep losses seen on Tuesday on reports that the Narendra Modi administration is likely to return to power for a third term.
Heritage Foods share price
Milk producer Heritage Foods’ share price rose 7.94 per cent to Rs 589.90 apiece on Thursday at 12:47 pm.Naidu’s wide Bhuvaneswari owned a 23.47 per cent stake in the company as of March quarter FY24. Their son Nara Lokesh holds a 10.82 per cent promoter stake in the company, followed by his wife Nara Brahmani who owns a 0.46 per cent stake in Heritage Foods. Naidu’s grandson Deevansh Nara also owns a 0.06 per cent stake in the FMCG company.
The company’s share price rose over 42 per cent in the past 5 days.
It re gistered more than 78 per cent gains over the past month.
The stock’s value was up over 148 per cent over the past 6 months.
Heritage Foods’ share price rose 185.21 per cent over the past year.
Amara Raja Energy and Mobility’s share price
Battery maker Amara Raja which is also pivoting inot the e-mobility space is led by Galla Jaydev, or Jay Galla, a former TDP party member. While Galla did not contest the polls this year, TDP’s return to power in the Andhra Pradesh Assembly propelled the company’s stock price to Rs 1,294.50 apiece, up 6.33 per cent from the previous day’s close at 12:53 pm.
Amara Raja’s share price was up 6.14 per cent over the past 5 days.
The company’s stock price jumped 15.45 per cent over the past month.
Over the past 6 months, the company’s share price rose 72.32 per cent.
Amara Raja’s share price jumped 109.36 per cent during the past year.
KCP share price
The share price of KCP, a conglomerate with interests in cement, sugar, hospitality and engineering, surged over 10 per cent since the Andhra Pradesh Assembly poll results were declared and gained momentum after the TDP’s push for Amaravati as state capital after coming to power. Amaravati, the dream capital project of Chandrababu Naidu, is expected to mark a change in how cities are planned and executed, similar to what brought Hyderabad fame under Naidu’s stewardship of undivided Andhra Pradesh.
KCP’s share price rose 11.33 per cent from previous clsoe to Rs 224.05 apiece on Thursday at 1:02 pm.
The share price rose 28.11 per cent over the past 5 days.
Over the past month, the company’s share price was up 32.56 per cent.
KCP’s share price was up 50.51 per cent over the past 6 months.
Over the past year, KCP’s share price jumped 103.84 per cent
The stocks of FMCG company Heritage Foods, cement and sugar company KCP, and vehicle battery maker Amara Raja Energy and Mobility jumped over 10 per cent over the past 2 days after Chandrababu Naidu-led TDP gained pole position in the Andhra Pradesh Assembly elections. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
