Redington India up over 9.5%

about 1 year ago
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Redington India rose over 9.5% to hit an intraday high at Rs.160, with volumes jumping up by more than 3.5x. Its 52-week is at Rs.179.25.

The stock rose on unconfirmed news that Apple will manufacture iPhone 14s in India in about two months from now and this is good news for Redington as it is a reseller of Apple's products.

The company did well for Q1FY23 with a 33% (YoY) jump in consolidated net profit at Rs.316 crore on a 25% rise in revenue at Rs.16803 crore.

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