Polycab signs up Redington Limited as the National distributor for its Passive Networking Solutions

Polycab India Limited (BSE: 542652, NSE: POLYCAB), the largest manufacturer of Wires and Cables in India and a fast-growing player in the FMEG space and Redington Limited (BSE: 532805, NSE: REDINGTON), a globally renowned supply-chain solution-provider, have announced their strategic partnership for Indian market.

Polycab will have now Redington as its National Distributor for its end-to-end passive networking solutions. With this tie-up, Polycab's telecom division, Polycab Telecom looks forward to meet its distribution-objectives and strengthen the presence of its passive networking portfolio, comprising end-to-end copper and fibre system, all across India, capitalizing on Redington's extensive distribution-network and efficient operational expertise.

Ashish D. Jain, Executive President & COO, Telecom Division, Polycab, says," We're thrilled to partner with Redington India. Redington's empowered distribution-network and vast geographic coverage in India will help us meet our distribution and channel-objectives, to fulfil the nationwide demands for end-to-end Make-in-India Passive Networking Products. We look forward to a seamless collaboration with Redington to deliver the best value to our end customers."

In view of the growing demand for connectivity and data-services, the agreement between Polycab and Redington holds huge significance. Renowned for the optimal use of resources to ensure the best-possible results, Redington will enable Polycab to engage with its large chain of Value-Added Distributors (VADs) and drive business through them across different tiers of cities in the country.

Sharing his views on the partnership, Mr R. Venkatesh, President, Enterprise Business Group, Redington Limited said, "We're absolutely delighted to come on board with Polycab. Polycab, a household name as the provider of power solutions, is uniquely positioned to provide both, end-to-end Power & Data Solutions.

Mr R. Venkatesh further adds, "Polycab aligns perfectly with the Indian government initiatives like Make-in-India and Aatmanirbhar Bharat, with its single OEM-strategy for electrical and passive networking products and accessories. As a National Distributor, we're geared up to offer them supply-chain management facilities to meet their distribution requirements. With our strong presence and solution-centric mechanism, we're confident to fast-track and augment Polycab Telecom's reach in the Indian channel-market."

Redington would provide Polycab's vast range of products including both, Optical Fibre Cable and Copper System, to the channel-partners and facilitate the company's accessibility to the VADs, who would work through an integrated activation programme to collaborate well with their ecosystem of System Integrators and Value Partners.

Shares of Polycab India Limited was last trading in BSE at Rs. 2606.75 as compared to the previous close of Rs. 2564.35. The total number of shares traded during the day was 6880 in over 1123 trades.

The stock hit an intraday high of Rs. 2611.00 and intraday low of 2560.95. The net turnover during the day was Rs. 17795287.00.

Shares of Redington (India) Limited was last trading in BSE at Rs. 179.80 as compared to the previous close of Rs. 179.45. The total number of shares traded during the day was 295780 in over 2208 trades.

The stock hit an intraday high of Rs. 184.20 and intraday low of 179.00. The net turnover during the day was Rs. 53830818.00.

Source : Equity Bulls

Keywords

PolycabIndia INE455K01017 RedingtonIndia INE891D01026 NationalDistributor PassiveNetworkingSolutions