Redington set for best week in 16 years with new iPhone rollout in India

Redington

19/09/2025 08:27

** Shares of Redington REDI.NS rise 25% this week; set for best weekly gains since May 2009

** Apple AAPL.O distributor's shares rise 6.5% after the launch of the iPhone 17 models in India at its store as investors bet on strong demand

** Under pressure from the Trump administration, Apple has boosted its already hefty investment in the U.S. in the hopes of sidestepping potential import duties

** It faces pressure from tariffs imposed on U.S. imports from countries including its production hubs, China and India

** REDI was up 15.5% on Tuesday after a block deal at premium of around 13% over its last close

** YTD, stock up ~54%

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))