Chandrababu Naidu family-run Heritage Foods shares jump 56%, promoters richer by Rs 870 crore

A senior equity market analyst said that the rally in share prices is entirely sentiment-driven as seen in the case of many other politically connected companies such as Sun TV and Amar Raja Energy.

“All these companies will have to improve their earning numbers and escape any allegation related to favouritism/corruption to justify the share price rise,” he said while requesting anonymity. 

The Heritage Group, founded in 1992, by Chandrababu Naidu, has three business divisions – dairy, retail and agri – under its flagship company Heritage Foods.

At present, Heritage’s milk and milk products have a market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand and Uttar Pradesh

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