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Shares of Redington Ltd climbed nearly 7% on Thursday, September 10, after Apple introduced its latest iPhone lineup, including the iPhone 18 Pro, iPhone 18 Pro Max and its first foldable iPhone, the iPhone Duo.
Redington stock rose 6.80% on the BSE to a record high of Rs. 403.55 per share. The stock later traded at Rs. 393.50, up 4.09%. At that level, Redington shares had gained more than 51% over the previous six months.
Apple unveiled the iPhone 18 Pro, iPhone 18 Pro Max and iPhone Duo at its September 9 product event. The company also introduced the Apple Watch Series 12, Apple Watch Ultra 4 and AirPods 5.
Redington serves as an authorised distributor of Apple products in India. The company also operates across the Middle East and Africa. Apple products account for a large share of Redington's mobility distribution business, linking its sales performance closely with demand for new Apple devices.
The iPhone 18 Pro and iPhone 18 Pro Max will open for pre-orders on September 12 before going on sale on September 18. Apple has priced the iPhone 18 Pro from USD 1,199, while the iPhone 18 Pro Max starts at USD 1,299.
Also Read: iPhone 18 Pro, Pro Max Launched: Price, Specs, Features
Apple also launched the iPhone Duo, its first foldable smartphone. The device starts at USD 1,999 and opens to reveal a 7.6-inch display. Apple designed the phone to support multiple apps on the larger screen while also allowing users to operate it through an external display when folded.
The company plans to open iPhone Duo pre-orders on October 16, with sales starting on October 23. The launch brings Apple into a foldable smartphone market where Samsung, Google and Motorola already sell competing devices.
Apple CEO John Ternus described the device as one that would “redefine the experience of using a foldable phone.” Ternus became Apple CEO on September 1 after previously serving as senior vice president of hardware engineering.
Meanwhile, the iPhone 18 Pro models use Apple's new A20 Pro processor. Apple says the chip improves processing, graphics and artificial intelligence performance. The Pro models also offer upgraded cameras, battery features and display technology.
Redington entered the latest Apple product cycle after reporting higher revenue and profit for the first quarter of FY27. The company's consolidated revenue reached Rs. 34,966 crore, up 34% from the same period a year earlier.
Profit after tax, excluding exceptional items, rose 77% year over year to Rs. 486 crore. Redington reported a PAT margin of 1.4% for the quarter.
The company's role in Apple's distribution network gives it exposure to sales of new iPhones and other Apple products across its markets. The latest launches add the iPhone 18 Pro series and the foldable iPhone Duo to Apple's product portfolio.
Redington shares touched Rs. 403.55 during Thursday's session before giving up part of their gains. The move marked a fresh record high for the stock following Apple's latest hardware launch.
