Walmart's Flipkart faces potential $1.35 billion fine

  • Walmart subsidiary and Indian e-commerce company Flipkart and its founders have received a notice from India's financial crime agency asking it to explain why it shouldn't face fines of 100 billion rupees ($1.35B) for alleged foreign investment law violations.
  • The agency has been investigating Flipkart and Amazon .com (AMZN -0.2%) for breaking multi-brand retail regulations that restrict such companies from operating as a marketplace to sellers.
  • The investigation involves predatory pricing allegations that Flipkart gave preferential treatment to its former subsidiary, WS Retail.
  • "We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice," said a Flipkart spokesperson. The company says that they are "in compliance with Indian laws and regulations."
  • Flipkart has 90 days to respond to the notice. Walmart bought a 77% stake in the company in Aug 2018 for $16B. The company was recently valued at $37.6B during a July funding round.

    Tomorrow the American Walmart Stores will report its past quarters results. For this year Walmart Stores 's (located in Bentonville) revenue will be around 563.8 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 559.15 billion USD.

    Historical revenues and results Walmart Stores plus estimates 2021

    koersgrafieken

    The analysts expect for 2021 a net profit of 17.66 billion USD. According to most of the analysts the company will have a profit per share for this book year of 6.24 USD. Based on this the price/earnings-ratio is 23.89.

    Per share the analysts expect a dividend of 2.21 USD per share. Thus the dividend yield equals 1.48 percent. The average dividend yield of the food & drug retailers equals a relatively high 1.98 percent.

    Based on the current number of outstanding shares Walmart Stores 's market capitalization is 422.25 billion USD. 14

    Historical stock prices Walmart Stores2007-2021

    equity research walmartstores

    On Wednesday the stock closed at 149.1 USD.

    Analist.nl Nieuwsdienst: +31 084-0032-842
    nieuws@analist.nl

    Copyright analist.nl B.V.
    All rights reserved. Any redistribution, duplication or archiving prohibited. Analist.nl doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.

    • Other stock news
    Analysts: this year best year ever for Walmart Stores
    Walmart's Flipkart is said to increase IPO valuation to $60B to $70B
    Analysts expect over 2021 decreasing revenue Walmart Stores
    Analysts expect sales decline Walmart Stores
    Analysts expect over 2020 rising revenue Walmart Stores
    Analysts expect over 2020 rising revenue Walmart Stores
    Analysts count on revenue increase Walmart Stores
    Sector news
    Analysts expect revenue increase Hellofresh
    Analysts expect over 2024 rising revenue Hellofresh
    Analysts expect over 2023 revenue expansion Hellofresh
    Sligro this year on track for record sales
    Sysco's sales on record level according analysts' estimates
    Analysts: Costco Wholesale on steam for record sales
    Analysts: this year best year ever for Walmart Stores
    National news
    NXP reaps benefits from FRAMOS collaboration
    Tesla net onder de 500.000 cars per year
    Analysts expect over 2024 revenue decrease Caterpillar
    Analysts expect sales decline Biogen
    Analysts anticipate for 2024 on revenue increase Cognizant
    Analysts expect over 2024 growing sales Colgate-Palmolive
    Analysts expect over 2024 revenue expansion Patterson-UTI Energy, relatively high dividend
    Press news
    Test News
    Light & Wonder, Inc. Announcement: If You Have Suffered Losses in Light & Wonder, Inc. (NASDAQ: LNW), You Are Encouraged to Contact The Rosen Law Firm About Your Rights
    MIDNIGHT HUB DEADLINE NOTICE: ROSEN, SKILLED INVESTOR COUNSEL, Encourages Midnight Hub Investors to Secure Counsel Before Important Deadline in Securities Class Action
    CUBI INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Customers Bancorp, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
    PACS INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that PACS Group, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
    WBD INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Warner Bros. Discovery, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
    HAS INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Hasbro, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
    Logoanalist
    Returns European stocks
    Crypto currencies information
    About us Network Partners
    Fpgroup.nlinfo@analist.nlRSS feedContactIntellectual Property Photos Analist.nlLinksISIN
  • Glossary
    		• MorningstarPrudena.comAAII.comNASDAQvwd GroupEuronextBATS Chi-xBats
    ©2024 ValueSpectrum. All Rights Reserved
    Developed and maintained by  Velainn logo