Apple’s iPhone 17 launch sends this Indian stock to a 16-year high weekly gain

Shares of Redington, one of Apple’s main distribution partners in India, have been on a tear after the launch of the iPhone 17 series in the country.

The stock has risen by 22% this week, marking its best weekly gain since May 2009.

The surge came as investors bet on robust demand for Apple’s latest devices.

The momentum has been fuelled by optimism around festive-season demand and Redington’s pivotal role in Apple’s supply chain.

Redington's long-standing partnership with Apple

Redington has been distributing Apple products in India since 2007, managing logistics, warehousing, and sales to resellers including Croma, Vijay Sales and Reliance Digital.

The company also runs a distributor partner program for Apple, enabling small and mid-sized businesses to retail Apple products.

Apart from iPhones, Redington handles Macs, iPads, Watches and accessories across India, the Middle East and Turkey.

Apple remains a critical client, contributing 34% to Redington’s topline in the June quarter, up from 30% a year earlier.

Pre-bookings signal strong festive demand for iPhone 17.

The launch of the iPhone 17, iPhone 17 Pro and iPhone 17 Pro Max has generated strong initial momentum.

Available in lavender, mist blue, sage, white and black, the iPhone 17 is priced from ₹82,900, with top-end variants going up to ₹1.9 lakh for the 1TB iPhone 17 Pro Max.

Initial pre-orders for the series in India have already surpassed those for the iPhone 16, analysts said, indicating strong festive-season sales.

Supply shortages, particularly for the Pro models, are expected, but Apple is on track for one of its strongest Diwali quarters yet.

Redington and partner retailers have rolled out introductory offers, including no-cost EMIs, cashbacks and exchange bonuses, to drive early sales.

Stock performance and technical outlook

Redington shares have recovered nearly 98% from their 52-week low of ₹158.61 in October last year.

The stock, however, remains about 6% below its 52-week high of ₹334.8 hit in June.

So far in 2025, the stock has rallied 48%. While it has a current price of Rs 296, analysts are estimating a potential upside of over 30% with a likely target of ₹385.

On the technical front, Redington recently broke above its 100-day moving average and trendline resistance.

The stock is trading above the upper Bollinger Band, suggesting a bullish bias as long as it holds above ₹295.

Key supports are seen at ₹295, ₹274 and ₹260, while resistances are pegged at ₹324, ₹334 and ₹365.

With Apple products continuing to anchor its revenue base, Redington’s fortunes remain closely tied to the success of new iPhone launches.

Analysts expect festive demand and strategic offers to keep momentum strong, while the company’s long-standing distribution partnership with Apple positions it well for further growth.