Redington shares rally 5% after Apple unveils new features at WWDC 2026

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The company rolled out the next-generation Apple Intelligence features, AI-powered photo editing tools, enhanced child-safety capabilities and software updates across iPhone, iPad, Mac, Apple Watch and Vision Pro.

Redington has been a key Apple distribution partner since 2007, handling the logistics, warehousing and distribution of Apple products to retailers and resellers across India, the Middle East, Turkey, Africa and South Asia.

Redington shares sharply surged to an intraday high of Rs 241 apiece on NSE on Tuesday morning, snapping a two-session losing streak. Notably, Apple shares meanwhile closed around 2% lower after its annual conference.

In what was Tim Cook’s last WWDC as the Apple CEO, the company on Monday unveiled a much-awaited overhaul of Siri, introducing a more conversational, context-aware version of its digital assistant as the company seeks to catch up with AI rivals including ChatGPT, Gemini and Claude.

The new model called ‘Siri AI’ will now come with a dedicated app, a redesigned interface and improved conversational abilities. According to Apple, it can understand a user’s personal context, access broad world knowledge and even understand what is currently on a user’s screen.
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Also read: Siri gets an AI makeover, its biggest upgrade since 2011 debut

Apple also unveiled the next generation of Apple Intelligence, built on updated Apple Foundation Models that power Siri, image generation, writing assistance and reasoning capabilities. It also significantly expanded its Visual Intelligence, bringing image understanding capabilities to more devices. On the iPhone, Siri can now analyse what users see through the Camera app and answer questions about objects, locations and food. The assistant can also perform actions such as splitting restaurant bills using Apple Cash.

Redington has a long-standing partnership with Apple, dating back to a 2007 distribution agreement for Apple products in India. Redington manages logistics, warehousing, and distribution to resellers and retailers across India, the Middle East, Turkey, Africa, and South Asia. It is one of Apple’s key official national distributors and supply-chain partners in India.

Redington in May reported a consolidated net profit of Rs 391 crore for the January-March quarter of FY26. This is over 41% lower than the Rs 666 crore net profit reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations, meanwhile, increased nearly 26% YoY to Rs 33,213 crore during the quarter under review.

Also read: Siri AI, Apple Intelligence, child safety tools and more — Biggest announcements from Apple

Redington shares have gained over 6% in one month but declined around 14% in 2026 so far. The stock is down 17% in one year. In the longer term, the shares of the tech company jumped 28% in three years and more than 74% in five years.

The company currently has a market capitalisation of more than Rs 18,537 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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