The shares of Redington jumped more than 9 percent on September 19, as the sale of iPhone 17 began in India. The stock hit an intraday high of Rs 314.40 apiece.
The stock later pared some gains to trade around 6 percent higher at Rs 304.85 apiece.
All about Apple's new iPhone 17:
Earlier this month, Apple unveiled its all new iPhone 17, iPhone Air, 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.
Strong demand for iPhone 17:
Visuals showed massive lines of customers waiting to buy the newly launched smartphones outside the stores, highlighting the strong demand.
VIDEO | iPhone 17 series launch: A scuffle broke out among a few people amid the rush outside the Apple Store at BKC Jio Centre, Mumbai, prompting security personnel to intervene.Large crowds had gathered as people waited eagerly for the iPhone 17 pre-booking.#iPhone17… pic.twitter.com/cskTiCB7yi
— Press Trust of India (@PTI_News) September 19, 2025
Initial pre-bookings for Apple’s new iPhone 17 series in India outpaced last year's iPhone 16 launch, signalling robust momentum as the festive season approaches. The surge puts Apple on track for one of its strongest Diwali quarters yet, even amid supply constraints for iPhone 17 Pro models, analysts told Moneycontrol.
Why are Redington shares rising?
Redington is a key distributor of Apple products in India. The company began distributing Apple products in India in 2007. Hnece, the strong demand for iPhone 17 may have boosted investor sentiment for 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 6 crore shares have been involved in active trade today so far. This is around 3 times that of the stock's 10-day average volumes.
Redington share price history:
Redington shares have recovered around 98 percent after hitting a 52-week low of Rs 158.61 apiece in October last year. The stock however has declined over 6 percent after hitting a 52-week high of Rs 334.8 apiece in June this year.
The stock has surged nearly 26 percent in the past five days, and more than 25 percent in the past one month. The stock has rallied around 54 percent in 2025 so far. Its P/E ratio currently stands at around 17.
Also read: Our LIVE blog on stock market updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
