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MarketScreener Homepage  >  Equities  >  Nyse  >  Walmart Inc.    WMT

WALMART INC.

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Hindu group sees Chinese telecom firms as security risk for India

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08/18/2019 | 09:32am EDT
FILE PHOTO: Ashwani Mahajan, chief of the Hindu nationalist RSS' economic group SJM, poses for a photograph in New Delhi

NEW DELHI (Reuters) - A Hindu nationalist group close to Prime Minister Narendra Modi's ruling party has stepped up criticism of Chinese telecom equipment makers, warning that their presence in India posed "an unacceptable security risk".

The economic wing of the Rashtriya Swayamsevak Sangh (RSS) has been campaigning to keep Chinese telecom equipment maker Huawei Technologies out of India's plans to install the next-generation 5G cellular network.

But now it is extending the campaign to other Chinese telecom equipment makers.

"India must recognise the full extent of the national and economic security threat posed by foreign and especially Chinese equipment in India's ICT (information and communication technology) networks," said Ashwani Mahajan, who heads economic wing of the RSS, known as Swadeshi Jagran Manch (SJM), in a statement on Sunday.

"China today controls a significant section of India's telecom networks even though information dominance is at the core of China's military strategy, posing an unacceptable security risk," Mahajan said.

Huawei is at the centre of a tug-of-war between China and the United States. U.S. President Donald Trump's administration put the company on a blacklist in May, citing national security concerns.

The RSS's economic wing has had significant influence on Indian government investment policy in the past year, especially in getting new regulations in place to protect small traders from U.S. owned e-commerce companies Amazon.com Inc and Walmart's Flipkart.

China is India's second biggest trading partner. Chinese products - from mobile phones made by companies such as Xiaomi Corp to televisions and air conditioners - are ubiquitous in India.

In October, Modi will host Chinese President Xi Jinping in the sacred Hindu city of Varanasi, his parliamentary constituency in northern India, where the two are expected to address trade issues including India's concerns about its $53 billion trade deficit with China in the year to March 2019.

Mahajan said earlier this month that India was unlikely to sign a China-backed Asia-Pacific trade pact because of opposition from industry and farmers, in a blow to prospects for creating a giant free trade zone.

(Reporting by Neha Dasgupta and Nidhi Verma; Edited by Martin Howell and Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -1.46% 1793.42 Delayed Quote.21.27%
WALMART INC. -0.14% 116.97 Delayed Quote.25.72%
XIAOMI CORP End-of-day quote.
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Financials (USD)
Sales 2020 522 B
EBIT 2020 21 815 M
Net income 2020 14 508 M
Debt 2020 56 499 M
Yield 2020 1,83%
P/E ratio 2020 23,1x
P/E ratio 2021 22,9x
EV / Sales2020 0,75x
EV / Sales2021 0,72x
Capitalization 333 B
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Technical analysis trends WALMART INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 119,13  $
Last Close Price 117,11  $
Spread / Highest target 15,3%
Spread / Average Target 1,72%
Spread / Lowest Target -13,8%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
Clay Johnson Enterprise Chief Information Officer & EVP
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