Redington shares surge over 7% as Apple iPhone 17 sale draws rush in Delhi, Mumbai, Bengaluru

Shares of Redington, the official reseller and distributor of Apple products in India such as iPhones, Macs and iPads, rose as much as 7.37% to hit an intraday high of ₹309.40 on the National Stock Exchange after reports suggested that sale of iPhone 17 which went live from today drew huge rush at Apple stores in Mumbai, Delhi and Bengaluru.

On the BSE, Redington shares rose as much as 7.42% to hit an intraday high of ₹309.50.

Customers thronged the Apple store in Bengaluru on Friday morning as the company's iPhone 17 series went on sale.

On September 2, Apple opened its first retail store in Bengaluru, marking its debut in South India and the company’s third outlet in the country.

Similar scenes were visible in Mumbai where a massive crowd gathered overnight outside the Apple store in Bandra Kurla Complex (BKC) with people waiting to buy the latest iPhone.

Apple unveiled the iPhone 17 series in the price range of ₹82,900 to ₹2,29,900.

Redington shares staged their best single day move in over four years on Tuesday when the stock soared over 20% after reports suggested that Apple's newly launched iPhone 17 and iPhone Pro Max 17 were witnessing strong demand in Indian markets.

Apple's iPhone Pro Max 17 in cosmic orange witnessed a considerable surge in demand, and it has gone out of stock within three days after pre-booking went live for pickup of the devices at the company's official stores in the US and India, as per information shared by company staff, news agency PTI reported.

As of 9:56 am, Redington shares traded 6.16% higher at ₹305.85, outperforming the BSE500 index which was down 0.13%.