Redington halts southward journey on bargain hunting

Redington India gained 4.87% to Rs 137.80 at 12:54 IST on BSE on bargain hunting after sliding 12.22% in the preceding eight trading sessions to settle at Rs 131.40 yesterday, 7 March 2018, from its close of Rs 149.70 on 22 February 2018.

Meanwhile, the S&P BSE Sensex was up 167.55 points, or 0.51%, to 33,200.64. The S&P BSE Mid-Cap index was up 17.39 points, or 0.11%, to 15,971.80.

On BSE, so far 19,000 shares were traded in the counter, compared with an average volume of 1.66 lakh shares in the past two weeks. The stock hit a high of Rs 138.75 and a low of Rs 132.40 so far during the day. The stock hit a record high of Rs 210.05 on 10 November 2017. The stock hit a 52-week low of Rs 103 on 3 March 2017.

The mid-cap company has an equity capital of Rs 80.03 crore. Face value per share is Rs 2.

Redington India's consolidated net profit rose 0.23% to Rs 126.07 crore on 7% rise in total income to Rs 11738.19 crore in Q3 December 2017 over Q3 December 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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