Heritage Foods, a company owned by Telugu Desam Party chief N. Chandrababu Naidu, a key ally of the new NDA coalition government led by the Bharatiya Janata Party (BJP), has rocked the last five trading days. The stock of this dairy company has registered a jump of 53.81 percent in the last five trading sessions. The company’s stock closed at the level of 429.90 on NSE on June 3, 2024. Then it closed at 661.25 on June 7, 2024. Let us tell you, N. Chandrababu Naidu founded Heritage Foods Limited in the year 1992. The share price of Heritage Foods closed at Rs 661.25 per share on NSE Nifty last Friday. On that day, the company’s stock registered a jump of 10 percent as compared to Thursday.
Share prices skyrocketed in five sessions
According to the National Stock Exchange, the stock of Heritage Foods Limited has jumped 53.81 percent in the last five trading sessions. On Friday, this stock closed at Rs 661.75 with a jump of 10 percent on BSE. According to NNC, the stock of Heritage Foods has given investors a return of 213.46 percent in the last one year. Similarly, this stock has given a return of 201.84 percent in the last three years. The market cap of the company is currently Rs 6141 crore.
The company has presence in these states
According to the company’s official website, Heritage Foods currently has its presence in the states of Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Punjab and Uttarakhand. More than three thousand villages and three lakh farmers in these states are benefiting from the company. Heritage is catering to the needs of millions of customers by creating indirect employment opportunities for a large number of people. Starting from a modest annual turnover of Rs 4.38 crore in the year 1993-94, the annual turnover of Heritage Foods crossed Rs 2344.01 crore in the financial year 2017-18.
The company’s performance is better
Heritage Foods’ revenue during the last quarter ended March 31, 2024 of the financial year 2023-24 was recorded at Rs 955 crore, it was Rs 821 crore on March 31, 2023. The company’s profit stood at Rs 40.50 crore during the fourth quarter ended March 31, 2024. This profit was Rs 17.93 crore on March 31, 2023.
Latest Business News
