Naidu becomes kingmaker in center; Wife Bhuvaneshwari's assets increase by Rs 584 crore

KOCHI: The net worth of party leader Chandrababu Naidu's wife Bhuvaneshwari has increased by Rs 584 crore in five days as the Telugu Desam Party (TDP) in Andhra Pradesh is tipped to be a crucial force in the third Modi government. Bhuvaneswari has an investment interest in the shares of Heritage Foods in which he has a 24.37% stake.

The share price of Heritage Foods, a leading company in the Fast Moving Consumer Goods (FMCG) segment, rose ten percent to Rs 661 yesterday. Bhuvaneshwari holds 2,26,11,525 shares in the company. The total share price is more than 1500 crores.

On May 31, the share price of Heritage Foods was Rs 402.9 on the National Stock Exchange. 258.35 in the subsequent five trading days. Profit 584 crore rupees! Even as all the leading companies in the country suffered heavy losses on the day of counting, Heritage Foods prices soared. Chandrababu Naidu's son Lokesh is the director of the company.

Amara Raja and KCP, companies close to Chandrababu Naidu, have also seen a huge jump in their share prices. Amara Raja, managing director of former TDP MP Jai Dev Galla, rose 10 percent yesterday to cross Rs 1,401. The share price of Amaravati-based KCP Ltd rose 13.5 percent to 249.10 yesterday.