Redington drops on profit booking

Redington (India) fell 3.45% to Rs 143.95 at 11:38 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 44.20 points, or 0.14% at 31,265.29. The S&P BSE Mid-Cap index was down 29.31 points, or 0.2% at 14,794.75.

On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 5.78 lakh shares in the past one quarter. The stock had hit a high of Rs 150.95 and a low of Rs 142.35 so far during the day. The stock had hit a record high of Rs 155.35 on 5 June 2017 and a 52-week low of Rs 79.70 on 9 November 2016.

The stock had outperformed the market over the past one month till 5 June 2017, advancing 16.35% compared with the Sensex's 4.86% rise. The scrip had also outperformed the market over the past one quarter advancing 43.92% as against the Sensex's 8.59% rise. The scrip had also outperformed the market over the past one year advancing 34.08% as against the Sensex's 16.64% rise.

The mid-cap company has equity capital of Rs 79.97 crore. Face value per share is Rs 2.

Redington (India) had rallied 18.52% in the preceding four trading sessions to settle at Rs 149.10 yesterday, 5 June 2017, from its closing of Rs 125.80 on 30 May 2017.

Redington (India)'s consolidated net profit rose 11.1% to Rs 153.32 crore on 3.1% increase in net sales to Rs 10794.98 crore in Q4 March 2017 over Q4 March 2016.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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