Apple distributor Redington stock nearly 29% higher this week; what’s behind the rally?
Other key clients in the quarter included HP at 9 per cent, Lenovo at 8 per cent, Dell at 6 per cent, and Samsung also at 6 per cent.
- Sep 19, 2025,
- Updated Sep 19, 2025 11:54 AM IST
Shares of Redington Ltd surged 9 per cent in Friday’s trade, taking its weekly gains to nearly 29 per cent, fueled by robust demand for Apple’s iPhone 17 in India. The stock rally comes as Apple continues to remain a key client in Redington’s portfolio, underpinning investor confidence.
On Friday, shares of Redington Ltd surged 9 per cent to hit a day’s high of Rs 314.60 on the BSE, up from the previous close of Rs 288.10. By 11:03 am, the stock pared some gains but remained elevated, trading 7.73 per cent higher at Rs 310.40, lifting the company’s market capitalisation to Rs 24,266 crore. The stock has rallied 18 per cent over the past month and is now trading nearly 29 per cent above last week’s close.
The new iPhone 17 lineup, which starts at Rs 82,900 for the 256GB model and goes up to Rs 2.29 lakh for the 2TB iPhone 17 Pro Max, has driven the buying frenzy across the country. Visuals of long queues outside Apple’s BKC store in Mumbai have been lighting up social media, underscoring the craze for the latest models.
Redington’s June-quarter investor presentation highlighted earlier shows that Apple now accounts for 34 per cent of the company’s revenue, up from 30 per cent a year ago. Other key clients in the quarter included HP at 9 per cent, Lenovo at 8 per cent, Dell at 6 per cent, and Samsung also at 6 per cent.
On the technical front, the 50-day simple moving average (SMA) stands at Rs 263.7, while the 200-day SMA is at Rs 247.4, with the current price comfortably above both levels, Trendlyne data showed. The daily Relative Strength Index (RSI) is at 69.5, indicating a mid-range trend, while the Money Flow Index (MFI) is at 93.3, suggesting an overbought condition. The one-year beta of 1.0 points to average volatility relative to the market.
Shares of Redington Ltd surged 9 per cent in Friday’s trade, taking its weekly gains to nearly 29 per cent, fueled by robust demand for Apple’s iPhone 17 in India. The stock rally comes as Apple continues to remain a key client in Redington’s portfolio, underpinning investor confidence.
On Friday, shares of Redington Ltd surged 9 per cent to hit a day’s high of Rs 314.60 on the BSE, up from the previous close of Rs 288.10. By 11:03 am, the stock pared some gains but remained elevated, trading 7.73 per cent higher at Rs 310.40, lifting the company’s market capitalisation to Rs 24,266 crore. The stock has rallied 18 per cent over the past month and is now trading nearly 29 per cent above last week’s close.
The new iPhone 17 lineup, which starts at Rs 82,900 for the 256GB model and goes up to Rs 2.29 lakh for the 2TB iPhone 17 Pro Max, has driven the buying frenzy across the country. Visuals of long queues outside Apple’s BKC store in Mumbai have been lighting up social media, underscoring the craze for the latest models.
Redington’s June-quarter investor presentation highlighted earlier shows that Apple now accounts for 34 per cent of the company’s revenue, up from 30 per cent a year ago. Other key clients in the quarter included HP at 9 per cent, Lenovo at 8 per cent, Dell at 6 per cent, and Samsung also at 6 per cent.
On the technical front, the 50-day simple moving average (SMA) stands at Rs 263.7, while the 200-day SMA is at Rs 247.4, with the current price comfortably above both levels, Trendlyne data showed. The daily Relative Strength Index (RSI) is at 69.5, indicating a mid-range trend, while the Money Flow Index (MFI) is at 93.3, suggesting an overbought condition. The one-year beta of 1.0 points to average volatility relative to the market.