Heritage Foods: For the second straight session, Telugu Desam Party (TDP)-affiliated companies’ shares, such as KCP Ltd. and Heritage Foods Ltd., continued to rise on Thursday. This resulted from press reports stating that Chandrababu Naidu, the leader of the TDP, may support the National Democratic Alliance (NDA) and that he is anticipated to become the chief minister of Andhra Pradesh after the regional party’s overwhelming election victory.
The share price of Heritage Foods rose by 10% to a 52-week high, while the share price of KCP Ltd. jumped by more than 18%. On the BSE, the share price of KCP Ltd opened at ₹216.05, and it reached an intraday high of ₹238.70.
Heritage Foods shares opened at ₹592.95 per share, with an intraday low of ₹575.50 and a high of ₹601.60 per share.
According to Ruchit Jain, Lead Research Analyst at 5paisa, Heritage Foods’ share price has risen sharply and in large volumes following the election results. The overall trend is encouraging, thus one can keep existing long positions. The stock’s support level is at ₹500. While the KCP Ltd share price has reached a new high on strong volume, this indicates that the rise will continue.
Chandrababu Naidu
According to reports, Chandrababu Naidu has reclaimed his leadership position in Andhra Pradesh. His return may revive his big dream project for Amaravati and bring about the development he has been discussing, as well as the one he mentioned during his previous term.
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He proposed Amaravati as the capital of Andhra Pradesh, but as we all know, he lost control of them when Mr. Jagan Mohan Reddy took over, so the state now has three capitals. The Street now believes that Amaravati will come back into focus, that he will take his oath, and that Amaravati itself will most likely be the target.
