This multibagger stock has risen by 16%, since iPhone 17 sales inch closer

Redington LTD shares have risen no less than 16% to hit a day of RS 280 on September 16, driven by excitement around the launch of the iPhone 17. Pre-orders are already underway, with the sale that starts on September 19.

The stock sees renewed interest, since Redington treats the supply chain for IT and mobility products, including the Apple iPhone. The company has a long -term partnership with Apple, dates from a 2007 distribution agreement for Apple Products in India. Redington manages logistics, storage and distribution to resellers and retailers in India, the Middle East, Turkey, Africa and South Asia.

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Redington LTD achieved a growth of 12% on an annual basis in the net profit and reported RS 275 Crore in Q1 FY26 compared to RS 246 Crore in the same period last year.

Turnover for the quarter of June increased by 22% JoJ to RS 25,952 Crore from RS 21,282 Crore. Although both the net profit and the turnover grew annually, they were considerably lower.

The company attributed its performance to strong implementation at companies and regions, together with new opportunities in technology and cloud solutions. Growth was mainly powered by the Premium Mobility Segment and large deal profits in India and the VAE.

From a technical perspective, Redington’s indicators suggest a bearish-prescription in the short term with mixed signals in the longer term. MACD measurements of -4.8 and -6.8 are under the zero line, which indicates that the progressive average in the short term is below the long -term average, which indicates Neerwaartse Momentum. The 14-day RSI is on 43.8 on a scale of 0-100, as a result of neutral-to-wake momentum and a light bearish signal.Read more: Does Sebi have to prohibit weekly options? This is what Zerodha’s Nithin Kamath thinks

There are important simple progressive averages (10, 20, 30, 100, 150 and 200 days) over trend measures above the current price-for example. The 10-day SMA is approximately RS 241.5 and the 200-day SMA around RS 246 what the shares are traded under both short and long-term averages

Around 11:50 am Redington shares were traded against RS 276.40, an increase of 14.5% compared to the previous closure of the NSE. The share has won 40% years to date.

((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)