India's Redington sees best close in over one month on profit rise

Redington

02/11/2022 10:26

(Updates)
    ** Shares of Indian Apple products distributor Redington Ltd
 REDI.NS  closed 7.7% higher at 147.9 rupees, best close since
Sept. 21
        ** Shares rose as much as 11.2% to a high of 152.70
rupees, biggest intraday pct gain since Jan. 7
  
    ** Co reported a 26% rise in Q2 profit and a 24.6% rise in
operating revenue as demand for tech products remained strong 
        ** Stock marks third consecutive session of gains 
  
        ** All eight analysts covering the stock rate it as
"buy" or stronger; median PT is 188.5 rupees
  
        ** More than 16 mln shares traded vs 30-day moving avg
of 1.5 mln shares 
  
        ** As of last close, REDI stock down 5.2% YTD 
  
($1 = 82.7650 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))