Redington Shares Rally to Record High on Strong Apple Sales

Redington shares soared to a record high on August 3 after strong quarterly results and Apple sales boosted investor confidence.

The company's stock jumped 7.6% to Rs. 346.20 on NSE during Monday’s session, marking its fifth straight day of gains, with the total increase reaching 23%

Redington reported a record-breaking revenue and profit in Q1 FY27, with revenue rising 34% year over year to Rs. 34,966 crore and profit after tax climbing 77% to Rs. 486 crore.

The growth was driven by strong performance in India, where revenue rose 63% and profit increased 60%, thanks to large enterprise deals, stronger PC sales, premium smartphone demand, cloud services, and cybersecurity.

Apple's June quarter revenue of $109.4 billion also contributed to the positive sentiment, with India being one of the markets that recorded double-digit growth during the quarter.