Redington India shines as its arm acquires entire stake in Brightstar

Redington (India) is currently trading at Rs. 152.90, up by 2.40 points or 1.59% from its previous closing of Rs. 150.50 on the BSE.

The scrip opened at Rs. 151.00 and has touched a high and low of Rs. 154.90 and Rs. 151.00 respectively. So far 59833 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 179.00 on 13-Jul-2021 and a 52 week low of Rs. 58.25 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 154.90 and Rs. 140.85 respectively. The current market cap of the company is Rs. 11759.13 crore.

The Institutions and Non-Institutions held 54.48% and 45.52% stake respectively in the company.

Redington India’s step-down subsidiary — Arena Bilgisayar Sanayi Ve Ticaret A.S. (Arena) has completed acquisition of 100% shares in Brightstar Telekomunikasyon Dagitim (Brightstar) on December 1, 2021. The cost of acquisition is $ 26.5 million. Brightstar Turkey’s operations primarily consist of value added distribution of leading brands of smartphones, devices, consumer electronics and accessories to telecom operators.

Redington is one amongst the top supply chain solution providers worldwide to over 100 leading manufacturers of Information Technology, Telecom, Lifestyle and Consumer Electronics Products

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