Heritage Foods Shares Surge to 52-Week High
Shares of Heritage Foods saw a dramatic rise, surging 10 percent to reach a 52-week high of Rs 727.35 on June 10. This spike followed a significant transaction valued at Rs 319.60 crore.
Doubling in Value in 12 Sessions
Over the past 12 trading sessions, the value of Heritage Foods shares has doubled. This remarkable growth is attributed to the political resurgence of Chandrababu Naidu, whose family members are key promoters of the company.
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Large Deal Boosts Share Price
A substantial transaction involving 44 lakh shares, representing a 4.8 percent stake in the company, was completed at an average price of Rs 725 per share. This price is about 10 percent higher than the previous closing price.
Trading Volume Soars
By 11:06 AM, Heritage Foods shares were trading at Rs 703.60 on the NSE. The large deal significantly increased trading volume, with 2 crore shares changing hands, far exceeding the one-month daily average of 35 lakh shares.