Espresso shot of the day – Redington (India) Ltd up by 18.44 percent

EspressoLogy

Espresso shot of the day – Redington (India) Ltd up by 18.44 percent

March 25, 2021
Espresso shot of the day – Redington (India) Ltd up by 18.44 percent

REDINGTON (INDIA) LTD 177.95 (+18.44%)  BSE – INE891D01026| 25TH MARCH 2021

Established in 1993, Redington (India) Limited has traversed an eventful and exciting journey to evolve from very humble beginnings into the company they are today. The incredible journey has seen them emerge from one brand, one product category, and one market into a US $7.3 billion distribution and supply chain solutions provider to over 230+ international brands in IT and Mobility spaces, serving 37 emerging markets.

Recent Drivers

  • On 21st March 2021, Redington (India) Limited informed the exchange regarding allotment if of 1,31,522 equity shares pursuant to exercise of Stock Appreciation Rights granted under Redington (India) Limited Stock Appreciation Right Scheme, 2017.
  • On 8st March 2021, Redington (India) Limited decided to opt for settlement under government tax scheme over gift of shares.
  • On 4th March 2021, Kissflow has announced a partnership with Redington (India) Limited to expand the reach of its flagship product Kissflow’s No-Code platform in India.
  • Redington (India) Limited reported quarterly net profit at Rs 189.30 crores in December 2020 up 21.42% from Rs 155.90 crores in December 2019.
  • Redington (India) Limited reported net sales at Rs 16,980.84 crores in December 2020 up 14.86% from Rs 14,784.49 crores in December 2019.
(Sources: MoneyControl, Investing.com, The Times of India, Redington Group)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by -1.39%
  • Spurt in Volume by more than 8.55 times compared to previous vol. 3 months avg qty – 36,529
  • Quantity traded 2,63,055 Deliverable quantity 57,262 (21.77%)
  • Stock price has jumped more than 195% from one year low level – 60, 13 March 2020
  • Daily RSI (14) is rising from sold level
  • 52 -week high – 201.20 | 52- week low- 60

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

245.47

193.93

163.07

111.53

80.67

29.13

-

-

Fibonacci Pivot

193.93

162.46

143.01

130.49

111.53

92.58

80.06

60.61

29.13


Today’s Close

177.95

SMA

BSE

10 DAY

167.14

20 DAY

175.03

50 DAY

161.88

200 DAY

126.14

Some Key Ratios (Source: BSE)

Market Cap: 6,923.82 crores

PE: 17.99

OPM%: 2.23

ROE%: 16.92

Promoters holding: -

Prev. Close: 150.25

*Chart And Technical Force data taken from the Binge desktop app.

The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Sharekhan comtrade bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Sharekhan Comtrade Private Limited is under no obligation to update the information in this document from time-to-time.


Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.