Redington India shares soar high following departure of its biggest shareholder
By MYBRANDBOOK
Redington India shares opened 5 percent higher on February 24 after 24.13 percent equity of the company worth Rs 3,200 crore changed hands in a block deal window. At 9:30 am on Friday morning, the stock was quoting at Rs 176.30 apiece on the NSE, higher by 2.44 percent after erasing some of its opening gains.
In Q3, it registered a standalone net profit of Rs 141.38 crore against Rs 137.45 crore clocked during the corresponding period of last year.
This comes after the announcement made by Synnex Mauritius in August 2022, that it would sell its stake in Redington India. As of December shareholding pattern, it was the biggest shareholder in the company with 24.13 percent stake.
Redington is a provider of technology products and services. This includes personal computers, laptops, tablets, notebooks, smartphones, desktops, printers and more. It is the largest distributor of Apple and IT products in India.
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