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This stock rose 46% in a week, hit 52-week high today

This stock rose 46% in a week, hit 52-week high today

The share stood at Rs 93.95 on June 1, 2020 on BSE. It has zoomed to Rs 262.85 today, translating into gains of 180 per cent during the period

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Share of Redington rose 20 per cent to hit a fresh 52-week high of Rs 262.85 in intraday session on BSE today. The stock opened 12.5 percent higher at Rs 246.50 against the previous close of Rs 219.05.

As per the share price history, Redington on BSE closed at Rs 179.55 on May 24, 2021. It hit an intraday high of Rs 262.85 in today's morning session. In a week, the stock has delivered 46 per cent returns. Market cap of the firm rose to Rs 10,063.26 crore.

The share stood at Rs 93.95 on June 1, 2020 on BSE. It has zoomed to Rs 262.85 today, translating into gains of 180 per cent during the period. In comparison, Sensex clocked 60 per cent in one year.

Redington share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages. The stock has gained 95 per cent since the beginning of this year.

For FY21, revenue from operations grew 10.6 per cent to Rs 56,945.86 crore from Rs 51,465.17 crore in the previous year. Net profit stood at Rs 756.39 crore against Rs 515.21 crore in the previous year.

The company reported a 154 per cent jump in consolidated net profit to Rs 302.51 crore for the quarter ended March 2021. Profit in the year-ago period stood at Rs 119.20 crore.

Revenue from operations grew 22 per cent to Rs 15,503.94 crore in the March-ended quarter against Rs 12,666.66 crore a year ago.

The company informed that strong growth was seen across IT Consumer, IT Enterprise & Mobility segments. Pro-Connect, its supply chain management and warehousing solutions company, registered growth across all metrics with revenue growth of 36 per cent on a year-on-year basis.

The Board of Directors has recommended a dividend of Rs 11.60 per equity share of Rs 2 each for the financial year ended March 31, 2021 subject to the approval of shareholders in the ensuing Annual General Meeting.

Redington EPS has increased to Rs. 7.77 in March 2021 from Rs. 3.06 in March 2020.