The launch of iPhone 17 has given not only Tech Lovers, but also those investing in the stock market. This week of Redington Limited Shares jumped tremendously Has installed On Friday, this stock climbed about 9% on BSE to a day high of Rs 314.60.
According to BSE data, Radington shares have seen a rapid increase of 25% in the last only five trading sessions. It is directly related to the launch of iPhone 17 and a strong distribution partnership with the Apple of Redington.
Old and strong relationship with Apple
Redington Limited is an authorized distributor of Apple in India and this partnership has been going on since 2007. Not only India, the company works as a supply, warehousing and retail distribution in many countries like Middle East, Türkiye, Africa and South Asia.
As soon as the pre-order of iPhone 17 started, investors hoped a lot about the possible heavy sales through Redington. This is the reason that there was a sharp jump in share prices.
What is the real reason for speed?
Redington’s strength is not just in dealing with a brand, but its functioning is spread in many countries and products. Apart from Apple, this company also distributes cloud, technology solutions and IT products.
In the June quarter, the company recorded a revenue of ₹ 25,952 crore, which is 22% more than the same quarter last year. The company’s performance in India and UAE was very strong, which has increased the trust of investors.
Last 6 months performance was also strong
If you talk about the last 6 months, then of Redington Share returns 36.71% Has given Although the market move was slow in between, but in the last few weeks it has brought new life. In the last two weeks, the stock has jumped 30.94%. In the last one month too, it has increased by 26%, which tells how much interest of investors has increased around the iPhone 17 launch.