IPhone success buoys Redington

Shares of Redington (India), the largest distributor for Apple products in India, are buzzing at the bourses following the success of iPhone X. In the past fortnight, the stock has jumped 30 per cent amid shortage of new iPhones. Channel checks show there is at least a three-week waiting period for the new iPhone X model, which also happens to be the most expensive ever. Besides India, Redington also distributes Apple products in three overseas markets. So far this year, the Redington stock has surged 2.2 times, against a 25 per cent gain for the BSE Sensex.