By Avishek Banerjee
Copyright republicworld
Shares of Redington India soared nearly 20% on Tuesday, marking their largest single-day gain since March 2021. The stock closed at Rs 289.70 on the National Stock Exchange (NSE), up from Rs241.42 the previous day, while on the Bombay Stock Exchange (BSE), it ended at ₹278.70, reflecting a similar surge.Analysts attribute the rally to strong investor sentiment driven by the upcoming launch of Apple’s iPhone 17. Pre-orders have already commenced, and official sales are scheduled to begin on September 19. As a key distributor of Apple products in India, Redington stands to benefit significantly from the anticipated demand.The surge in Redington’s stock price also comes amid a broader market rally, with the BSE Sensex rising by 595 points and the Nifty 50 crossing the 25,200-mark on Tuesday. Sectoral indices such as auto, realty, and telecom led the gains, contributing to the positive market sentiment.Also Read: iPhone 17 Air Launched: Apple’s Thinnest iPhone Yet – Why It Matters and Why You Should Think Twice | Republic WorldIndustry experts say that Redington’s strong operational model, combined with its established presence in multiple markets, positions it as a major player in the technology distribution landscape. Analysts believe that continued demand for mobility and IT products, coupled with upcoming festive season sales, could sustain investor confidence in the stock in the medium term.Notably, Redington India is a global technology supply chain solutions provider, offering distribution, logistics, and services for IT, telecom, cloud, lifestyle, and solar products. Headquartered in Chennai, it partners with over 200 brands and has a vast channel network in more than 30 emerging markets across India, the Middle East, Africa, Turkey, and South Asia. The company provides a range of services including warehousing, after-sales support, and solutions for cloud, data, AI, and other emerging tech areas.
