Redington India drops after bulk deal

Redington India lost 1.56% to Rs 126.50 at 12:45 IST on BSE after a bulk deal of 4.14 lakh shares was executed on the scrip at Rs 126 per share at 09:39 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 3.39 points, or 0.01%, to 31,213.18. The S&P BSE Mid-Cap index was up 107.80 points, or 0.73%, to 14,866.64

Bulk deal boosted volume on the scrip. On BSE, so far 9.25 lakh shares were traded in the counter, compared with an average volume of 64,750 shares in the past one quarter. The stock hit a high of Rs 128.60 and a low of Rs 123.60 so far during the day. The stock hit a record high of Rs 155.35 on 5 June 2017. The stock hit a 52-week low of Rs 79.70 on 9 November 2016.

The stock had underperformed the market over the past one month till 4 July 2017, sliding 13.82% compared with 0.32% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 13.97% as against Sensex's 4.12% rise. The scrip had also outperformed the market in past one year, advancing 24.46% as against Sensex's 14.88% rise.

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

Redington India's consolidated net profit rose 11.15% to Rs 153.32 crore on 3.06% rise 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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