New Delhi, March 17 -- Redington share price declined over 5% in early trade on Tuesday after the company said its operations in the Gulf region have been restricted due to the ongoing US-Iran war. Redington shares slipped as much as 5.08% to Rs.221.05 apiece on the BSE.

Redington's step-down subsidiary, Redington Gulf FZE stated that its operations in the Gulf region are being pursued in a restricted manner amid the prevailing geopolitical tensions.

The company cited several challenges impacting its operations, including the re-routing of shipments and the closure of major ports and airspace, which have resulted in longer transit times. It also highlighted the need for higher working capital due to increased inventory levels and custom...