Redington Limited and Zoho forge alliance to turbocharge digital transformation in India
The stock has experienced significant buying activity, yielding returns of more than 29 per cent in the last one year.
Today, the shares of Redington Limited surged over 3.22 per cent, reaching Rs 222.70 each on the BSE. The company's current market capitalization standing at Rs 17,410.12 crore.
Share Performance:
On Friday, the stock opened at Rs 216.45, with the previous closing being Rs 215.75. The 52-week high and low are Rs 226.80 and Rs 136.25, respectively as per BSE.
Recent Development:
Redington Limited has unveiled a strategic collaboration with Zoho Corporation, a global technology leader. This partnership is poised to extend Zoho's cutting-edge cloud solutions, catering to office productivity, team collaboration, and customer engagement, to a wider customer base across India. Leveraging Redington's expansive network of partners, the alliance aims to facilitate access to Zoho's acclaimed solutions for businesses of all sizes.
Through this venture, Redington will utilize its extensive distribution network to offer a suite of Zoho solutions, including Zoho Workplace (a unified enterprise collaboration platform), Bigin by Zoho CRM (a pipeline-centric CRM solution for small and micro-businesses), and Zoho ZeptoMail (a transactional email delivery solution). These tailored solutions are designed to streamline operations, enhance productivity, and foster growth across various industries.
Management comment:
On the occasion, R Venkatesh, President, Technology Solution Group, Redington Limited said, "We are excited to announce our strategic collaboration with Zoho as its technology solution provider. We are committed to providing cutting-edge solutions to companies of all scales to help them grow and drive innovation. With this partnership, we are confident in empowering businesses with robust and resilient software solutions designed for success and scale.”
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About the Company:
Established in 1993, Redington India Limited has transformed from its humble origins of representing just one brand and one product category into a significant player in distribution and supply chain solutions. Today, the company boasts partnerships with over 235 international brands in the IT and Mobility sectors, catering to 37 emerging markets.
Business development:
The product-wise breakdown illustrates that Non-Aeronautical revenue accounts for the majority share at 54 per cent, followed by Aeronautical revenue at 22 per cent. Other operating revenue and Income from security and other services contribute 18 per cent and 3 per cent, respectively.
In terms of geographical distribution, operations in India represent 46.39 per cent of the total revenue, while operations in other locations contribute 53.61 per cent.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 29 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.