Telugu Desam Party (TDP) chief Chandrababu Naidu’s stars are on the rise at this time. There is good news for him from the economic sector as well as politics. On one hand, he is going to take oath as the Chief Minister of Andhra Pradesh on June 12, while on the other hand, the total wealth of his wife Nara Bhuvaneshwari Devi has increased by Rs 579 crore in just five days. The credit for this unexpected increase in his wealth goes to the remarkable performance of FMCG company Heritage Foods, where he has a significant stake.
Chandrababu Naidu is the co-founder of Heritage Foods. He founded this company in 1992, which deals in dairy products. Chandrababu Naidu’s wife Nara Bhuvaneshwari is the main stakeholder of this company. She has a 24.37 percent stake in Heritage Foods. That is, Nara Bhuvaneshwari has 2,26,11,525 shares of the company. Despite the fall in the stock market after the Lok Sabha election results, the stock prices of this company saw a strong rise. The share price of Heritage Foods was Rs 402.90 per share on 31 May 2024. But it reached the highest level of Rs 659 per share within five trading sessions. This jump resulted in a profit of Rs 256.10 per share.
Chandrababu has laddus in both his hands
Chandrababu Naidu’s party TDP has won the maximum number of 135 seats in the Andhra Pradesh assembly elections this time. He will become the new CM of Andhra Pradesh on June 12, i.e. tomorrow. Chandrababu Naidu has also emerged as the kingmaker in the formation of the central government. This time the Bharatiya Janata Party (BJP) has been able to win only 240 seats. But the NDA helped form the Modi government for the third time by winning a total of 293 seats. Chandrababu Naidu’s party TDP has won 16 seats in the Lok Sabha elections this time. Known for his strategic skills and leadership, Naidu has been the CM of Andhra Pradesh several times. He has been the national president of TDP since 2015.
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How did Chandrababu and Bhuvaneshwari meet?
Chandrababu Naidu was just starting his political journey when he met Bhuvaneswari, the daughter of Telugu cinema’s famous personality and Telugu Desam Party (TDP) founder N. T. Rama Rao. Naidu got a Congress party ticket with the help of N. G. Ranga and became MLA from Chandragiri constituency in the 1978 assembly elections. He was the cinematography minister from 1980 to 1983 when Naidu came in contact with N. T. Rama Rao. Soon their professional relationship turned into a personal one. Naidu asked Rama Rao for his second daughter Bhuvaneswari’s hand in marriage and the two got married in September 1981.
How important are the recent elections?
The recent Lok Sabha and Assembly elections were very important for Chandrababu Naidu and his party TDP. The success in both these elections has proved to be a turning point for Naidu and his party. The party emerged as a major player in the Lok Sabha elections. It contested 17 seats and won 16. TDP’s success played an important role in NDA getting 293 seats in the 543-member Lok Sabha.
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What was the impact on heritage foods
Positive election results and the strong performance of the TDP boosted investor confidence in Heritage Foods, pushing its stock to new highs. This not only benefited Nara Bhuvaneshwari, but also boosted the net worth of Naidu’s son Nara Lokesh, who is one of the company’s promoters. Chandrababu Naidu’s lasting influence in Andhra Pradesh politics continues to shape the fortunes of his family and associated businesses, highlighting the intertwining of politics and business in India.
How much property does Chandrababu Naidu have?
Chandrababu Naidu has movable assets worth Rs 4.80 lakh and immovable assets worth Rs 36.31 lakh. The total liability of the family is more than Rs 10 crore. Apart from this, Naidu has an Ambassador car worth Rs 2.25 lakh. But according to the affidavit of the TDP chief in the last assembly elections 2019, the value of movable and immovable assets of the Naidu family was Rs 574.3 crore. Bhuvaneshwari also has 3.4 kg of gold and about 41.5 kg of silver. The affidavit also states that 24 FIRs are registered against Naidu in various cases.
Tags: Andhra Pradesh news, Chandrababu Naidu, Money Matters, Stock Market
FIRST PUBLISHED : June 11, 2024, 14:13 IST