Redington stock jumps 15% today as Apple’s ‘big week’ teaser fuels expectations of new iPhone, iPad launches
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Market participants linked the buying interest in Redington stock today to Apple’s teaser posted earlier this week, which has fuelled speculation around multiple product launches over the coming days. Redington is a key distributor of Apple products such as iPhones, iPads and MacBooks.
- Redington shares surged nearly 15 percent after Apple’s teaser
- Stock hit Rs 281.1, among top gainers on BSE Smallcap index
- Apple’s upcoming launches boost Redington investor interest
Redington Ltd shares surged sharply on Friday, jumping nearly 15 percent in late-afternoon trade and touching intraday gains of almost 17 percent, as investor interest picked up after Apple chief executive Tim Cook teased a “big week” of product announcements starting next Monday.
The Redington Ltd stock was trading at Rs 281.1, up 14.95 percent on the day, placing it among the top gainers on the BSE Smallcap index. The rally pushed the company’s market capitalisation to over Rs 22,000 crore.
Market participants linked the buying interest to Apple’s teaser posted earlier this week, which has fuelled speculation around multiple product launches over the coming days. Investors and traders are widely speculating that Apple could unveil new iPhone models, refreshed iPads and updated MacBook devices, though the company has not confirmed any product details.
Redington is a key distributor of Apple products across India and several emerging markets, including iPhones, iPads and MacBooks, through its extensive retail and channel network. As a result, the stock often reacts to sentiment around Apple’s product cycles and launch-related expectations.
While Redington does not manufacture Apple devices, Apple has historically been a meaningful contributor to the company’s mobility and consumer electronics distribution business, making the stock sensitive to shifts in launch momentum and demand outlook.
Over the past one year, Redington shares have risen about 11.5 percent, broadly in line with the Nifty 50’s 11.7 percent gain over the same period, indicating that Friday’s sharp move marks a near-term outperformance driven largely by sentiment. Investors are now watching Apple’s expected series of announcements next week for further cues.
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.
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