TDP-linked stocks surge amid Chandrababu Naidu’s potential return as AP CM

Shares of Telugu Desam Party (TDP)-related firms, including Heritage Foods and Amara Raja Energy & Mobility, witnessed a remarkable surge of up to 20 percent on June 5.

This sharp rally followed reports indicating TDP chief Chandrababu Naidu’s potential ascension to the role of Andhra Pradesh Chief Minister after the party’s resounding victory in the elections, with speculation of possible support for the National Democratic Alliance (NDA).

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While Prime Minister Narendra Modi has secured a third term, the BJP finds itself relying on the support of other parties within the coalition, including JD(U) chief Nitish Kumar and TDP’s chief Chandrababu Naidu, with a shortfall of 32 seats to reach the majority mark of 272.

Earlier this year, Chandrababu Naidu announced his decision not to contest in the general elections, citing the challenge of balancing his political commitments with his entrepreneurial pursuits. As of 2:30 pm, shares of Heritage Foods were trading 20% higher at ₹546.50, reflecting the market’s optimism surrounding the potential political developments.