Indias largest reseller of Apple products surges over 5 per cent to make a new 52-week high, do you own it?

The company has shown positive traction as it has delivered 24.11 per cent returns in the last month and over 55.86 per cent in the last 6 months

On Monday, shares of Redington surged over 5.8 per cent to make a new 52-week high of Rs 199.65. The scrip witnessed a massive spurt in volume by more than 1.49 times.   

Recently, Redington, India’s largest reseller of Apple products, reported the best-ever revenue growth of 25 per cent to Rs 19050.74 crore from the corresponding quarter last year. The EBITDA levels stood at Rs 562.45 crore, up by 22.95 per cent from the last year’s quarter. The company’s net profit increased 26 per cent to Rs 387 crore from the same period a year ago. Apple remains the company’s largest vendor, contributing 27 per cent of the revenue.   

Redington Limited is a leading IT technology solution provider across information technology, Mobility, Telecom, Cloud, Lifestyle and solar verticals. It has a footprint across 38 markets, including 60 subsidiary offices. With over 290+ brand associations and 40,000 channel partners, it is transforming the distribution and supply-chain ecosystem through synergy between innovation and technology adoption.  

The company has shown positive traction as it has delivered 24.11 per cent returns in the last month and over 55.86 per cent in the last 6 months. Keep a close eye on this trending stock.