REDINGTON

share price skyrockets 19%, here's why?

Shares of Redington surged as much as 18.48 per cent on Tuesday, September 16, recording their largest single-day gain since March 2021. The stock hit an intraday high of Rs 289.50 per share, trading 18.48 per cent higher at Rs 286.03 around 1:16 PM (IST). Trading volumes were exceptionally high, with around 7 crore shares changing hands by mid-day, compared to the 20-day average of 8.7 lakh shares. This marks Redington’s highest trading volume since February 2023, when 19 crore shares were traded in a single session. Why are Redington share up? In addition, approximately 85.6 lakh shares—equivalent to 1.1% of the company’s total outstanding equity and worth Rs 239 crore—have been exchanged in multiple block deals so far. The identities of buyers and sellers involved in these transactions remain unknown.