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.
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.
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