Information technology (IT) and consumer products distribution and services company, Redington India, is likely to benefit from the growing demand for such products in the country. It recently got exclusive rights to distribute the iPhone 5 in India, expanding the range of Apple products it distributes. Rising revenue contribution of Apple products (which enjoys high asset turnover and negative working capital days)...
Nomura has reiterated 'buy' recommendation on Redington India and increased its target price to Rs 115, an upside of 44 per cent to the current market price.
SMART Technologies Inc. has announced the appointment of Redington as an authorized distributor for SMART’s business collaboration and interactive products. Through this working agreement SMART aims to strengthen its presence across India and South Asia by addressing the needs of customers in the rapidly growing collaborative business solutions market.
Apple has officially launched iPhone 5, its latest flagship smartphone, in India today at promotional events in New Delhi, Gurgaon, Mumbai and Bangalore. The company has partnered with distribution masters Redington and Ingram Micro, which revealed the launch date for the phone last week, to retail the device across the country.
Nomura has reiterated a 'Buy' rating on Redington India, India's largest distributor of IT and electronics products and set a target price of Rs 101.
IT distributor Redington (India) has posted a 19% jump in its net profit to Rs 72.92 crore for the second quarter ended September 30, 2012.
The Chennai-based company had a net profit of Rs 61.27 crore during the same period last year, the company said in a filing to the BSE.
Total income rose to Rs 5,859.71 crore from Rs 5,188.97 crore in the year ago period
The demand for information technology (IT) products such as desktops, laptops and printers continues to grow at a sedate pace in the developed markets. But in India, many countries in West Asia, and most parts of the African continent, there has been a rapid off-take of IT products as well as digital devices such as smartphones and tablets.
IT and ITeS supply chain management company Redington (India) Ltd is planning to expand its operations to the North African market, including Morocco, Libiya, Algeria and Tunisia along with some countries in South Africa in next three years, after gaining experience from the sub-Saharan Africa.
Fortinet announced that it has appointed Redington, to distribute Fortinet's entire range of network security solutions in the country. This appointment augurs Fortinet's next phase of growth in the market by driving expansion of the vendor's channel ecosystem and its penetration into tier-2 and tier-3 cities.
C Sivasankaran has sold Sterling Technopolis IT Park to Chennai based-Redington India Limited for Rs. 110Cr.
Virtualisation and cloud technology provider VMware, Inc. today announced the appointment of Redington as its national value added distributor for India.
Microsoft India has appointed Avnet and Redington as its Value-Added Distributors (VADs) in the country in a move aimed at creating an enhanced and superior level of service for partners and customers in the SMB space on the latest technologies.
Parallels has announced an exclusive partnership with Redington, a leader in end-to-end supply chain management of IT and non-IT products in India.