Apple distributor Redington India at all-time high ahead of new iPhone launch

Redington India, the authorised distributor for Apple’s iPhone saw a huge uptick in its share prices, as the scrip touched all time high of Rs 166 on Tuesday afternoon, ahead of the much awaited iPhone launch.

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Eight is the luckiest number in China because it sounds similar to the phrase meaning "to get rich". (Reuters)
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Shares of Redington India touched all time high of Rs 166 in intraday trade on Tuesday on BSE ahead of new iPhone launch. (Image: Reuters)

Shares of Redington India touched all time high of Rs 166 in intraday trade on Tuesday on BSE ahead of new iPhone launch, up by more than 2.5%. Redington India is the authorised distributor for Apple’s iPhone in India. Redington India Limited is an India-based company, which operates in the information technology product distribution business, supply chain solutions and after sales services of information technology products.

HCL Infosytems, another distributor of the software giant’s products was trading up by more than 2.21% on Tuesday afternoon at Rs 51.9 on NSE. Redington India shares have returned more than 66% in the year so far, as against 31% returned by the BSE Midcap index. 

Apple is all geared up to launch all new iPhone in its September 12 event. Other than the much-anticipated iPhones the tech giants will also launch a new company campus called the Apple Park and the keynote speech will be held at the Steve Jobs Theater.

The new Apple devices will be launched in three variants- iPhone 8, iPhone 8 Plus and iPhone X. Apple will mark the 10th anniversary of the iPhone by announcing a grand new device with many new features. While the iPhone 8 and 8 Plus mobiles are expected to be the upgrades to the iPhone 7 series, the iPhone X will be an all new smartphone.

A compilation of all the recent reports has suggested that the Apple will launch three devices: iPhone X, iPhone 8, and iPhone 8 Plus. The iPhone 8 and 8Plus will be upgraded variants of the iPhone 7 and iPhone 7 Plus. There will be some notable improvements in terms of camera, battery, display and other specifications and features. However, all eyes will be on the iPhone X (probably pronounced as iPhone 10). After all, it will be the 10th anniversary iPhone.  Apple’s September 12 event or the iPhone X event takes place at 10.00 AM Pacific Time (PDT) which is 10.30 PM IST in India.

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