Apple supplier Redington witnessed an over 11% jump in its shares on Thursday, November 6, following a strong set of earnings for the quarter ended September 30.
Redington share price rallied as much as 11.7% to hit the day’s high of ₹279.55 on the BSE in early morning trade as the company posted the highest-ever quarterly revenue and a strong double-digit growth in its profit after tax (PAT) for Q2 of fiscal 2025-26 (FY26).
Redington Q2 Results
Redington, on Wednesday, announced its strongest-ever quarterly performance, with consolidated global revenue of ₹29,118 crore, marking a 17% year-on-year (YoY) growth. Its net profit came in at ₹388 crore, a 32% increase compared to the same period a year ago, underscoring the company’s focus on technology solutions evolution.
The growth momentum remained broad-based, said Redington, as India and the UAE business grew 23% YoY each, while KSA delivered a 10% growth, and Africa continued its upward growth cycle.
The results were supported by enhanced go-to-market alignment, deeper brand collaborations, and an expanded solutions portfolio, Redington said in a press release with the exchanges.
Segment-wise, Redington’s software solutions group grew 48% YoY, supported by cloud, software and cybersecurity momentum. The Mobility Solutions Group (MSG) grew 18% YoY, driven by higher demand in the premium segment, new product introductions, with robust execution on the Direct to Retail model.
TSG grew 9% YoY, driven by stronger enterprise demand in the enterprise segment. Lastly, ESG grew 11 % YoY, led by higher PC demand in India as AI PC penetration begins to accelerate.
Redington shares: Should you buy?
Redington has reclaimed the key range of 260–293.8 with a strong bullish earnings gap and an open-low setup, signalling solid buying interest, said Anshul Jain, Head of Research at Lakshmishree.
“The breakout session witnessed volumes over three times the 50-day average, indicating institutional participation and accumulation. If the stock manages to sustain and close above 260, the probability of a move toward the upper end of the range near 293 is high. The overall price structure and volume behaviour suggest that momentum is returning, and a follow-through move could confirm the start of a fresh uptrend within the established range,” he added.
Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One, said that from a technical standpoint, a positive crossover in the 14-day RSI, accompanied by an upward shift in the MACD histogram, collectively suggests an optimistic market outlook. On the support side, the range between 270-265 is anticipated to provide a buffer against potential declines, with stronger support estimated in the 260-255 zone, added the analyst.
“Conversely, resistance is positioned around the 300 level, and a decisive breakout above this threshold is likely to initiate renewed momentum in the near future.”
Redington, a major distributor of Apple products in India and other regions, has seen a strong 41% rise in its shares in a year, while it has risen 11% in the last six months.
Redington has observed a significant increase in both price and trading volume following a critical support level defined by the 200-DSMA. This development has sustained its trend of higher highs and higher lows in the short term.
On a longer time frame of five years, Redington has emerged as a multibagger stock, delivering 371% returns.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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