Redington (India) jumps on tying up with 3M India as National distributor

17 Sep 2013

Redington (India) is currently trading at Rs. 57.05, up by 0.60 points or 1.06% from its previous closing of Rs. 56.45 on the BSE.

The scrip opened at Rs. 55.15 and has touched a high and low of Rs. 60.15 and Rs. 55.05 respectively. So far 12,293 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 92.80 on 18-Dec-2012 and a 52 week low of Rs. 50.80 on 21-Aug-2013.

Last one week high and low of the scrip stood at Rs. 65.00 and Rs. 54.05 respectively. The current market cap of the company is Rs. 2,277 crore.

The promoters holding in the company stood at 21.04% while Institutions and Non-Institutions held 45.57% and 33.38% respectively.

Redington (India) has tied up with 3M India (3M) as a National distributor for distribution of their 3M Cogent Biometric & Security systems products. 3M Corporation is a $25.3 billion diversified technology driven Company known for its innovation across the world with leading positions in a broad range of important markets. 3M markets approximately 50,000 products worldwide in about 200 countries and owns more than 45 technology platforms. The 3M technology solutions expertise has been tried and tested for performance, safety, value & productivity in markets that include Construction, Transportation, Hospitals, General Industry, Aerospace, Railways, Highways, Defense, Security, Mining, Health, Oil & Gas, Telecom, Marine and Homes in India and across the globe.

This partnership with 3M will enable the Company to enhance its product portfolios and would provide access to the attractive opportunity in the biometric & Security systems segment though a strong and established MNC brand.

Redington (India) is engaged in the business of vendor-authorized end-to-end supply chain management of information technology (IT) hardware and software products. The company distributes a range of IT products, such as networking, storage, and enterprise products, as well as servers and software solutions.

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