Redington shares hit a record high of ₹413.20 on Friday as Apple’s new iPhone lineup went on sale across India, boosting investor sentiment.

The company is one of Apple’s biggest distribution partners in the country, and stocks like this tend to move whenever a new iPhone drops.

Redington operates as an integrated technology solutions provider, distributing products for several global tech brands beyond Apple.

Still, more iPhones sold generally means more business flowing through its supply chain, which is why traders keep a close eye on launch day.

This year’s release stands out. Apple introduced its first foldable phone, the iPhone Duo, priced between roughly ₹3 lakh and ₹4.5 lakh.

In the same segment, Samsung’s Z Fold series is available in India for less, between about ₹1.79 lakh and ₹2.6 lakh.

The rest of Apple’s lineup, including the iPhone 18 Pro and Pro Max, also got pricier this year, with hikes ranging from 20% to 43% over last year’s models.

Rising memory chip costs and a weaker rupee are being blamed for the jump. This isn’t the first time the stock has reacted to the launch news.

Shares had already climbed nearly 7% about a week earlier, right after Apple first unveiled the new devices.

Friday’s move builds on that momentum, now that the phones are actually available to buy. The rally also lines up with a strong quarter for the company.

For the April to June period, Redington posted a 77% jump in profit to ₹486 crore, while revenue rose 35% to ₹34,922 crore, its highest ever for a quarter.

Operating profit, or EBITDA, grew 76% year on year. Zoom out and the stock’s run looks even bigger.

Redington shares are up close to 47% since the start of the year and have gained 74% over the past six months alone.

The company’s total market value now stands at around ₹31,490 crore. At last check, the stock was trading at ₹402.80 on the NSE, up 0.67% for the day.

Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!