Naidu Stock: Why TDP Linked Stocks Are Surging After Lok Sabha Election Results 2024
Naidu’s TDP, which is in alliance with the Jana Sena Party and BJP, won 16 seats in the Lok Sabha election from Andhra Pradesh.In the Assembly polls, the TDP emerged as the leader with 135 seats and is likely to take an oath as the state CM on 9th June. Stocks which are related to Chandrababu Naidu and his party have started soaring after the election results. Let us take a look at TDP linked stocks and their performance in the last 2 days.
TDP Linked Stocks List
Shares of KCP Ltd. climbed by 13% today after Wednesday’s 18% rise. It was at ₹238 at the peak of its day’s session, stock rose almost by 40% in two trading sessions.
KCP’s Business Model
KCP is mainly in the cement and sugar business, which gives 96% of the company’s total revenues. It also has other smaller divisions including the engineering as well as their hotel business.
Heritage Foods Ltd Stock
Another ‘TDP’ linked stock which hit an upper circuit for another trading session. The stock saw a rise in the last three sessions, and went up by more than 43 percent.
Nara Chandrababu Naidu, the wife of Chandrababu Naidu, is the key stakeholder in the company. She owns 2,26,11,525 shares or 24.37 per cent stake in Heritage Foods at the end of March quarter.
Nara Lokesh, the son of N Chandrababu Naidu, is also one of Heritage Foods promoters. Nara Lokesh had 10.82 per cent stake in Heritage Foods as on March 31. Nara Brahmani, Naidu’s daughter-in-law, held 0.46 per cent while grandson Deevansh Nara also held 0.06 per cent in Heritage Foods.
The Heritage Group was founded in 1992 by TDP Chief Chandrababu Naidu, it has three divisions- dairy, retail and agri. Nara Lokesh, the son of N Chandrababu Naidu, is one of the promoters of Heritage Foods, according to the exchange filing of the company.
Shares of Heritage Foods rose by 10 per cent to Rs 601.60 in Thursday morning session, and hit an upper circuit for a second straight session,
In the last one month, shares of Heritage Foods have rallied more than 95 per cent, while the counter has nearly doubled investors wealth in the last one year. The stock has surged more than 150 per cent in the year 2024 so far, while the stock nearly tripled in the last one year.
Amara Raja Stock
There is no direct TDP link with this company, but the managing director Galla Jayadev (Jay Galla) is a former TDP Parliamentary Party Leader. He was a two-time MP but did not contest Lok Sabha elections this time.
As the TDP is back, the stock is rising again. At 10 am, shares of Amara Raja were trading 6.91 per cent higher at Rs 1,300 on BSE. This stock has gained 22 per cent in two straight days of gains.
According to the India Today report, the Telugu Desam Party (TDP), may seek a Speaker’s post along with the ministries in health department, rural development, and transport portfolios. BJP managed to secure 240 seats but could not meet the magic figure of 272. So the NDA alliance including Chandrababu Naidu will play a key role in the next NDA government.