In an extraordinary turn of events, Nara Bhuvaneswari, the wife of Telugu Desam Party (TDP) leader Chandrababu Naidu, saw her net worth soar by Rs 579 crore in just five days. This substantial increase is attributed to the remarkable performance of Heritage Foods, an FMCG company where she holds a significant stake.
The Heritage Foods Surge
Heritage Foods, co-founded by Chandrababu Naidu, experienced a massive rally in its stock price despite a broader market crash following the Lok Sabha election results. The stock price of Heritage Foods jumped from Rs 402.90 per share on May 31, 2024, to an intraday high of Rs 659 per share within five trading sessions. This surge resulted in a gain of Rs 256.10 per share.
Nara Bhuvaneswari owns a 24.37% stake in Heritage Foods, amounting to 2,26,11,525 shares. Her significant ownership and role as a key promoter played a crucial role in the company’s market performance, leading to her net worth’s dramatic increase.
Chandrababu Naidu: Political Career and Influence
Chandrababu Naidu, born on April 20, 1950, in Naravaripalle, Andhra Pradesh, has been a prominent figure in Indian politics for several decades. Known for his strategic acumen and leadership, Naidu has served as the Chief Minister of Andhra Pradesh multiple times and has been the national president of the TDP since 2015.
Early Life and Education
Naidu was born into an agricultural family and faced challenges in accessing education, attending primary school in Seshapuram and later completing his higher education in Chandragiri. He earned a B.A. degree from Sri Venkateswara Arts College, Tirupati, and pursued a master’s degree in economics from Sri Venkateswara University.
Political Journey
Naidu’s political career began in the 1970s with the Indian National Congress (INC). He was elected to the Andhra Pradesh Legislative Assembly in 1978 and served as a minister in the state cabinet. His political trajectory took a significant turn when he joined the TDP, founded by his father-in-law, Nandamuri Taraka Rama Rao (NTR). Naidu played a pivotal role in the party, eventually becoming its general secretary and later orchestrating an intra-party coup that made him the Chief Minister of Andhra Pradesh in 1995.
Naidu’s tenure as Chief Minister from 1995 to 2004 and from 2014 to 2019 was marked by his focus on technology and infrastructure development. He has been a staunch advocate for economic reforms and modernization in Andhra Pradesh, earning him the nickname “Hi-Tech Naidu.”
How Chandrababu Naidu Met His Wife Bhuvaneswari
Chandrababu Naidu’s political journey was already gaining momentum when he crossed paths with Bhuvaneswari, the daughter of N. T. Rama Rao, a legendary figure in Telugu cinema and the founder of the Telugu Desam Party (TDP). Naidu had secured a candidacy from the Congress party with the help of N. G. Ranga and became an MLA for the Chandragiri constituency in the 1978 assembly elections. During his tenure as the cinematography minister from 1980 to 1983, Naidu came into contact with N. T. Rama Rao. This professional relationship eventually led to a personal connection, and in September 1981, Naidu married Bhuvaneswari, Rao’s second daughter. This marriage not only strengthened his political alliances but also marked the beginning of a significant partnership in both his personal and political life.
The 2024 Lok Sabha Elections
The recent Lok Sabha elections were a turning point for both Naidu and the TDP. The party emerged as a key player, winning 16 of the 17 seats it contested. The TDP’s success was instrumental in the National Democratic Alliance (NDA) securing 293 seats in the 543-member Lok Sabha, with the BJP winning 240 seats, falling short of the 272-seat majority needed to form a government on its own.
The Impact on Heritage Foods
The positive election results and the TDP’s strong performance contributed to investor confidence in Heritage Foods, propelling its stock to new heights.
This rally not only benefited Nara Bhuvaneswari but also increased the net worth of Nara Lokesh, Naidu’s son, who is also one of the company’s promoters. Nara Bhuvaneswari’s remarkable increase in net worth underscores the intricate link between political fortunes and market performance. As the wife of a prominent political leader and a key promoter of Heritage Foods, her financial success reflects the broader economic and political dynamics at play.
Chandrababu Naidu’s enduring influence in Andhra Pradesh politics continues to shape the fortunes of his family and the enterprises they are associated with, highlighting the intersection of politics and business in India.
Chandrababu Naidu’s assets and net worth
Chandrababu Naidu’s assets include movable properties worth Rs 4.80 lakh and immovable properties valued at Rs 36.31 lakh. The family’s total liabilities exceed Rs 10 crore. Additionally, Naidu owns an Ambassador car valued at Rs 2.25 lakh. The affidavit also notes that Naidu is linked to 24 FIRs across various cases.
