India's Redington falls on Q3 profit drop

Redington

07/02/2024 06:28

** Shares of tech products distributor Redington  REDI.NS 
fall ~7% to 193.80 rupees
    ** Co posts 10% drop in its Dec-qtr consolidated profit on
sluggish gadgets demand
    ** Stock records steepest intraday fall in six months
    ** REDI set to snap seven-session winning streak
    ** Trading volume nearly twice the 30-day moving average
    ** Avg rating of five analysts on REDI at "buy" - LSEG data
    ** Stock trading ~8% below its median PT - LSEG
    ** REDI fell 2.2% in 2023, after rising for four straight
years
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))