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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, its India boss said on Friday.The world's largest retailer has 20 wholesale outlets in India, including in Lucknow and Hyderabad, which will support its e-commerce services, its India Chief Executive Officer Krish Iyer said.It would look at rolling out the service to the remaining 18 outlets as well, Iyer said, but not for another six months at least."We will not start rolling out to the other 18 stores for the next six months because we will learn from any teething problems and feedback from members," Iyer told Reuters.

Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT fell by 0.36% or $-0.27/share to $75.46. 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 1270150.