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Friday, June 13, 2014

Wal-Mart to launch e-commerce marketplace in India in July, (NYSE: WMT)

Wal-Mart Stores Inc will launch its business-to-business e-commerce platform in the Indian cities of Lucknow and Hyderabad in the first week of July, the world's largest retailer's India boss said on Friday. Sales through the firm's e-commerce service will be available only to its trader members, said Krish Iyer, India president and chief executive officer.Iyer said Wal-Mart would look at rolling out this service to other cities, but not for another six months at least.In April, Wal-Mart announced plans to open 50 more wholesale outlets in India and start online operations to sell to small shopkeepers, several months after it decided against opening its own retail stores.

Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT fell by 0.56% or $-0.43/share to $75.73. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 6176720 shares of WMT exchange hands on a given day and today's volume is recorded at 5336596.