How iPhone 17 launch helped an Indian stock to rally 28 percent in a week
CHENNAI: Shares of Redington Ltd surged nearly 8 percent on Friday, touching an intraday high of around Rs 310 on the BSE, as Apple’s iPhone 17 officially went on sale in India. The stock has now risen about 28% over the past five trading sessions, making it one of the top performers in the mid-cap segment.
The rally is being driven by expectations of strong demand for Apple’s latest iPhone and Redington’s role as one of its key distributors in India. Redington, which has been handling Apple’s distribution in India since 2007, will offer the iPhone 17 series across nearly 7,000 retail outlets in the country, supported by bank offers and exchange deals.
