Low PE Stock Jumps Over 11%; Here’s Why It Is Among the Top Gainers on March 10

Redington share price moved higher on Tuesday, March 10, 2026, with the stock jumping around 11 per cent as the Indian equity markets recovered from the previous day’s decline. During the morning session on March 10, the stock touched an Intraday high of Rs 263 and was trading around Rs 260. The counter also saw a traded volume of about 265.14 lakh shares during the session.

Redington Ltd’s market capitalisation has crossed Rs 20,000 crore, reaching around Rs 20,209 crore. The company reports a return on capital employed (ROCE) of about 18.9 per cent. In addition, the company has maintained a dividend payout of around 37.8 per cent.

Key Trigger for Rally in Redington Share Price on March 10 

Quarterly Financial Performance of Redington 

In terms of quarterly performance, Redington Ltd reported revenue of around Rs 30,922 crore in December 2025, compared with Rs 29,076 crore in September 2025, representing an increase of about 6.3 per cent QoQ. The company’s net profit stood at about Rs 626 crore in the December quarter, compared with Rs 589 crore in the previous quarter, indicating a growth of around 6.3 per cent on a QoQ basis.

GCCL Cluster Performance

The Gulf, Central and Levant Cluster (GCCL) refers to a group of Middle Eastern countries outside the UAE and Saudi Arabia (KSA) and mainly includes the Levant region, which is part of the eastern Mediterranean area. In Q3 FY26, this cluster reported revenue growth of around 29 per cent, supported by increased cloud and IT infrastructure investments from both government and corporate sectors in the region.

Redington share prices had earlier declined due to the ongoing tensions between Iran, the United States, and Israel, but it moved higher as the situation showed signs of easing.

Valuation Metrics: Redington Trades at Low PE 

In terms of valuation, Redington Ltd trades at a P/E ratio of around 14.4x, which is lower compared with the industry P/E of about 31.1x. The company’s EV/EBITDA multiple stands at approximately 8.89x, based on its current financial metrics.

Shareholding Pattern Update: FIIs and DIIs Increased Stake 

In terms of the latest quarter-on-quarter shareholding pattern, Foreign Institutional Investors (FIIs) increased their stake in Redington Ltd to 61.94 per cent in December 2025, compared with 61.81 per cent in September 2025, while Domestic Institutional Investors (DIIs) also increased their holding to 17.28 per cent from 16.97 per cent during the same period. Meanwhile, the government holding remained unchanged at 0.05 per cent, and the public shareholding declined to 20.73 per cent in December 2025 from 21.17 per cent in September 2025.

Tax Relief for Redington 

Redington Ltd also informed that the company has received a favourable decision from the Commissioner of Income Tax (Appeals) for the Assessment Year 2021–22. Earlier, the Income Tax Department had raised a tax demand of about Rs 136.25 crore, but the company challenged this demand.

After reviewing the case, the tax authority cancelled the demand, providing relief to the company. Redington had earlier informed the stock exchanges in December 2023 about receiving the tax demand notice.

Disclaimer: The article is for informational purposes only and not investment advice