Redington (India) gains after tie up with CtrlS Datacenters

The announcement was made after market hours on Thursday, 6 June 2013.

Meanwhile, the S&P BSE Sensex was down 29.54 points, or 0.15%, to 19,489.95.

On BSE, 20,000 shares were traded in the counter as against an average daily volume of 1.72 lakh shares in the past one quarter.

The stock hit a high of Rs 80.35 and a low of Rs 78.15 so far during the day. The stock had hit a 52-week high of Rs 92.80 on 18 December 2012. The stock had hit a 52-week low of Rs 65 on 13 August 2012.

The stock had underperformed the market over the past one month till 6 June 2013, falling 7.66% compared with the Sensex's 0.78% fall. The scrip had also underperformed the market in past one quarter, sliding 8.70% as against Sensex's 1.39% rise.

The mid-cap company has an equity capital of Rs 79.83 crore. Face value per share is Rs 2.

CtrlS Datacenters has appointed Redington (India) as a national distributor for its cloud computing products.

CtrlS is a part of Pioneer Group, which is primarily involved in IT-services, consulting and infrastructure. CtrlS has developed the capabilities to provide platform level services which includes data center infrastructure, storage, backup, hardware, OS layers, network and security layers. It offers a host of outsourced business solutions and services such as disaster recovery on demand, managed services, private cloud-on-demand to enable clients to make the paradigm shift from the captive datacenter model to the outsourced one.

This partnership will enable Redington India to enhance its cloud portfolio, Redington said in a statement.

Redington (India)'s consolidated net profit rose 2.7% to Rs 104.83 crore on 24% increase in net sales to Rs 6807.73 crore in Q4 March 2013 over Q4 March 2012.

Redington is the largest supply chain solution provider in emerging markets. As a group, Redington is present in India, Middle East,Africa, Turkey, Srilanka, Bangladesh and CIS countries. It provides end-to-end supply chain solutions for all categories of Information Technology products (PCs, PC building blocks, networking, software and enterprise solution products) and Consumer and Lifestyle products (Telecom, Digital Lifestyle products, Entertainment products and Digital Printing Machines) to over 100 international brands.

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