The stock shows bullish momentum with key support around ₹260-275.

Redington India Ltd. will extend its positive momentum as it nears the release of its fourth-quarter (Q4) results, according to SEBI-registered analyst Sameer Pande.

The IT company hit its highest quarterly revenue of ₹26,764 crore during the December 2024 quarter, representing a 13.7% increase from last year.

The company saw its net profit rise by 17.5% over the previous year to reach ₹400 crore.

At the time of writing, Redington India shares traded at ₹281.82, up ₹1.66 or 0.59%.

According to Pande, effective operational strategies implemented throughout different business segments and locations led to strong results and essential contributions from India and the UAE.

Redington's cloud and subscription software division expanded by 42% while the Technology Solutions Group grew by 28%, showing strong sector demand. 

The company expects sustained strong demand in India as the fiscal year ends. 

However, the festive season effects will lead to reduced demand levels in the Middle East and Turkey markets. 

Redington is growing its international presence through market expansion into South Africa, Kazakhstan, Azerbaijan, Singapore, and Malaysia.

The closing value of Redington stock was ₹280 on May 16, with strong upward momentum demonstrated by an RSI of close to 73.

Investors should consider increasing their holdings as the stock maintains strong support between ₹260 and ₹275 before the quarterly results are released. According to Pande, the stock retains continual strength in its weekly and monthly trading patterns.

The analyst recommends investors buy during price drops and set a stop-loss around ₹235 to aim for ₹320 to ₹340 gains soon.

On Stocktwits, retail sentiment was ‘neutral’ amid ‘normal’ message volume.

REDINGTON sentiment and message volume as of May 19, 12.10 pm IST. Source: Stocktwits.

The stock has risen 41.2% so far in 2025.

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