Redington shares hit 20% UC ahead of iPhone 17 sale in India; heavy volumes aid sentiment

iPhone 17

The shares of Redington surged 20 percent to hit the upper circuit at Rs 289.70 apiece on September 16. This comes as investors anticipate bumper sales of Apple’s newly unveiled iPhone 17 in India.

The sales of Apple iPhone 17 are set to begin in India from September 19 (Friday) onwards. Pre-orders are already underway. Redington is a key distributor of Apple products in India. The company began distributing Apple products in India in 2007.

All about Apple's new iPhone 17:

Earlier this month, Apple unveiled its all new iPhone 17, iPhone 17 Pro and iPhone 17 Pro Max. iPhone 17 will be available in lavender, mist blue, sage, white, and black in 256GB and 512GB storage capacities. The price of iPhone 17 starts at Rs 82,900 in India.

Pre-orders for the iPhone 17 opened in India on September 12. According to analysts cited by PTI, the newly launched smartphone series sees strong demand in India, with some models already going out of stock on pre-orders. The strong demand for the device may have boosted the stock.

Redington shares see heavy volumes:

The sharp rise in the share price of Redington comes as the stock sees heavy trading volumes. Nearly 10.9 crore shares have been involved in active trade today. This is around 75 times that of the stock's 10-day average volumes. The stock today saw its biggest single-day gain since March 2021, CNBC-TV18 reported.

Redington share price history:

Redington shares have recovered around 83 percent after hitting a 52-week low of Rs 158.61 apiece in October last year. The stock however has declined 13.5 percent after hitting a 52-week high of Rs 334.8 apiece in June this year.

The stock has surged more than 17 percent in the past five days, and more than 20 percent in the past one month. The stock has rallied around 45 percent in 2025 so far. Its P/E ratio currently stands at around 14.

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