This stock jumps nearly 7% to hit record high on latest iPhone launch

Shares of Redington Ltd rose sharply in Thursday's trade, climbing nearly 7 per cent to hit a fresh record high following Apple's launch of its latest iPhone lineup.

On BSE, Redington's stock surged 6.80 per cent to an all-time high of Rs 403.55 apiece. The stock was trading 4.09 per cent higher at Rs 393.50 at last check. At this level, it has gained 51.75 per cent over the past six months.

Apple unveiled the iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max at its 'Surprise and Shine' event on September 9.

The company also launched the Apple Watch Series 12, Apple Watch Ultra 4 and AirPods 5.

Pre-orders for the new iPhone models in India will begin at 5:30 PM IST on September 12, while sales are scheduled to start on September 18.

Apple also increased the prices of some older iPhone models in India, including the iPhone 17, iPhone 17e and iPhone Air.

Redington is an authorised distributor of Apple products in India and is among Apple's national supply chain and distribution partners across India, the Middle East and Africa (MEA). Apple products form a significant part of Redington's mobility business.

The latest iPhone launch comes as Apple expands its smartphone portfolio, including with the introduction of its first foldable iPhone, the iPhone Duo. Apple's shares ended marginally lower after the product launch.

Q1 earnings

Redington's consolidated revenue stood at Rs 34,966 crore in Q1 FY27, representing year-on-year (YoY) growth of 34 per cent.

Profit after tax, excluding exceptional items, increased 77 per cent to Rs 486 crore. PAT margin for the quarter stood at 1.4 per cent.