Shares of Redington have extended their winning streak to seven consecutive sessions, surging 6% in intraday trade to hit a high of ₹288.82 on Friday. The stock is now up 25% over the past seven sessions, significantly outperforming the broader market. According to Business Standard, over the last one month, Redington shares have gained nearly 30%, compared with a 1.4% rise in the benchmark Nifty 50 index. As of 12:10 PM, Redington shares were trading 5.7% higher at ₹287.55, while the Nifty 50 was down 0.89%. More than 13 million shares of the company changed hands during this period, reflecting strong investor interest.
The sustained rally comes after Apple CEO Tim Cook revealed to the Wall Street Journal that price increases are 'unavoidable' due to soaring memory and storage chip costs driven by AI demand. Cook stated, 'We are doing our best to mitigate the huge increases that are being passed on to us, and we have been trying to shield our customers from the increases, but the situation has become unsustainable.' He noted that surging AI-driven demand for data centres has forced consumer electronics companies into fierce competition for dwindling supplies of key components, driving prices sharply higher. Cook emphasized that 'There is less supply at a time when consumers want devices and the memory companies are passing along huge price increases.' He added that 'We definitely need memory pricing and supply to return to reasonable levels for consumer products. That's the bottom line.' Apple did not specify which products could see price hikes or when the changes might take effect.
Market participants viewed the possibility of higher-priced Apple devices as a potential positive for key distribution partners such as Redington, which plays a crucial role in the company's regional supply chain. As per Business Standard, Redington is one of Apple's key distribution and supply chain partners in India, distributing iPhones, iPads, MacBooks and other Apple products in the country. The company has also announced a dividend of ₹6.0 per share with record date set for July 3, 2026. According to Angel One's Rajesh Bhosale, the Street expects any increase in Apple product prices will benefit the company and boost its revenue prospects.
From a technical perspective, the stock continues to witness strong bullish momentum, having advanced for seven straight sessions and gained more than 25% in recent sessions. The daily chart reflects a saucer formation breakout, suggesting the possibility of a sustained upmove. As per Angel One's analysis, the stock could head towards the ₹320–330 zone, while the ₹270–275 range is expected to provide immediate support. Any pullback towards this zone may offer a favourable buying opportunity for investors.
Redington last month reported global revenue of ₹33,269 crore in the fourth quarter of the previous financial year, marking an increase of 25% from the same period last year. As reported by The Economic Times, its net profit for the quarter excluding exceptional items stood at ₹467 crore and net profit margin at 1.4%. For FY26, Redington delivered revenue of ₹1,19,347 crore, representing year-on-year growth of 20% and net profit margin stood at 1.3%. The company's annual revenue growth of 19.87% has outperformed its 3-year CAGR of 14.34%, demonstrating consistent growth momentum across recent quarters.
