Heritage Foods' stock price up by more than 5% today

10 Jun 2024 , 04:21 PM

Heritage Foods’ stock soared by 10% to reach a 52-week high of ₹727.35 on June 10th, following a block deal of ₹319.60 Crore.

In a big deal, about 44 lakh shares, or 4.8% of the firm, were traded on the exchanges. The average price at which the transaction was finalised was ₹725 per share, which represents a premium of about 10% over the previous close.

Heritage Foods’ shares were trading at ₹697.6 on the NSE at 14:56 p.m. Due to the significant transaction, volumes at the counter increased dramatically. Today, 2 Crore shares have traded on the bourses, double the typical daily trading volume of 35 lakh shares over a month.

As of the end of the March quarter FY24, Andhra Pradesh CM designate Chandrababu Naidu’s son Nara Lokesh held a 10.82% share in Heritage Foods, while his wife Bhuvaneswari Nara owned a 24.37% stake. Naidu’s family is the company’s promoter.

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