Redington's Stock Rebounds Amid Broader IT Hardware Sector Gains and Strong Dividend Yield

Redington, a midcap player in the IT Hardware sector, has shown notable activity today, gaining 5.17% on February 5, 2025. This performance marks a trend reversal for the stock, which had experienced four consecutive days of decline prior to this uptick. The stock reached an intraday high of Rs 211.75, reflecting a 4.77% increase during the trading session.
In terms of market positioning, Redington's performance today outpaced the broader IT Hardware sector, which saw an overall gain of 2.42%. Additionally, Redington's stock has outperformed the Sensex, which recorded a slight decline of 0.24% on the same day. Over the past month, Redington has also shown resilience, with a 5.54% increase compared to a 1.05% drop in the Sensex.

From a technical perspective, Redington's stock is currently trading above its 5-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 20-day moving average. The company also boasts a high dividend yield of 3.07% at the current price, indicating a solid return for shareholders.