Indias largest reseller of Apple products enters into a strategic partnership with Polycab India
The company has delivered 32 per cent returns in the last month and was trading on a new 52-week high value of Rs 189 on November 29, 2022
On Thursday, Polycab India announces that it has signed up Redington Limited as the national distributor for its passive networking solutions. Post-release of the news, shares of Redington zoomed over 2.6 per cent to make an intraday high of Rs 184.20.
The agreement between Redington and Polycab holds huge significance as Redington will enable Polycab to engage with its large chain of Value – Added Distributors (VAD’s) and drive business through them across different tiers of cities in the country.
Recently, Redington – India’s largest reseller of Apple products, reported the best-ever revenue growth of 25 per cent to Rs 19080.8 crore from the corresponding quarter last year. 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 delivered 32 per cent returns in the last month and was trading on a new 52-week high value of Rs 189 on November 29, 2022. Keep a close eye on this trending stock.