- The share stood at Rs 96.05 on July 13, 2020. it's zoomed to Rs 358 today, translating into gains of 273 percent during the amount.
Share of Redington India Limited has delivered 273 percent return to its shareholders in one year. The share stood at Rs 96.05 on July 13, 2020. it’s zoomed to Rs 358 today, translating into gains of 273 percent during the amount. as compared, Sensex rose 44 percent in one year.
Rs 5 lakh invested within the midcap share a year ago would have become Rs 18.63 lakh today.
The stock has gained 164 percent since the start of this year. It opened 1.5 percent higher at Rs 345.45 against the previous close of Rs 340.05 on BSE. It continued its strong upside momentum and rose 5.28 percent to hit a fresh 52-week high of Rs 358.
With a market capitalization of over Rs 13,000 crore, the share stands above 5 days, 10 days, 20 days, 50 days, 100 days, and 200-day moving averages.
According to MarketsMojo, the corporate features a strong ability to service debt because the company features a low Debt to EBITDA ratio of 0.59. The technical trend has improved from Mildly Bullish on May 21, 2021, and therefore the stock is technical during a Bullish range now and has generated an 85.38 percent return since then. Multiple factors for the stock are Bullish like MACD, Bollinger Band, DOW, OBV, and KST.
It noted that the stock is trading at a premium compared to its average historical valuations and with a Return on equity (ROE) of 15.4, it’s a good valuation with a 2.7 Price to value. Also, the corporate has high institutional holdings at 57.79 percent and therefore the EPS has increased to Rs 7.77 in March 2021 from Rs 3.06 in March 2020.
For FY21, revenue from operations grew 10.6 percent to Rs 56,945.86 crore from Rs 51,465.17 crore within the previous year. net income stood at Rs 756.39 crore against Rs 515.21 crore within the previous year.
The company reported a 154 percent jump in consolidated net income to Rs 302.51 crore for the quarter ended March 2021. Profit within the year-ago period stood at Rs 119.20 crore. Revenue from operations grew 22 percent to Rs 15,503.94 crore within the March-ended quarter against Rs 12,666.66 crore a year ago.
The company informed that strong growth was seen across IT Consumer, IT Enterprise & Mobility segments. Pro-Connect, its supply chain management, and warehousing solutions company, registered growth across all metrics with revenue growth of 36 percent on a Year-on-Year basis.
Recently, the board of Redington India approved a bonus issue of 1 equity share of Rs 2 each for each share (1:1) held within the company. The record date for reckoning the eligible shareholders entitled to be allotted bonus shares has been fixed as August 20, 2021.
“The Board of Directors have considered, approved and recommended a bonus issue of 1 equity share of INR 2/- (Rupees Two only) each fully paid up for each one equity share of INR 2/- (Rupees Two only) each held as on the Record date decided for this purpose. This bonus issue is going to be subject to the approval of shareholders and other approvals, consents, permissions, conditions, and sanctions, as could also be necessary,” the corporate said in an exchange filing.
“On account of the above bonus issue and so as to suits the regulations, the record date of ultimate dividend (including one-time special dividend) of FY2020-21 fixed as August 4, 2021, is now advanced to July 19, 2021, by the board,” the corporate added.