Redington Shares Surge 5% on Apple Price Hike Reports Amid Chip Cost Pressures

$REDINGTON Ltd shares jumped over 5% in morning trade on Thursday, climbing as high as ₹261.38 on the NSE, after reports indicated that Apple may raise product prices to counter sharply rising memory and storage chip costs. The rally was driven by Redington’s strong position as one of Apple’s primary authorised national supply chain and distribution partners across India, the Middle East, and Africa. Apple products contribute a significant portion of Redington’s mobility segment revenues. Apple CEO Tim Cook told The Wall Street Journal that surging AI-driven demand for data centres has intensified competition for chips, making price increases unavoidable despite the company’s efforts to absorb costs. Market participants see potential benefits for key distributors like Redington amid Apple’s upcoming product cycle.