Redington surges to record on Apple's India push report

Reuters Market Eye - Redington India jumps 12.2 percent.

Marks all-time high of 147.75 rupees.

Apple plans big India push with 500 stores - Economic Times report

A franchise model is likely to be adopted and could be spearheaded by Redington, the report adds.

Apple currently operates in India through two key distributors - Redington and Ingram

Redington is up 93.5 pct YTD compared to 35.8 pct of Nifty.

Stock trades at 13.94x F12M earnings compared to 15.5x for rivals - Reuters data.

(Reporting by Abhishek Vishnoi)