Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Tencent Holdings Limited    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

India's move to restrict TV imports reinforces Modi's make locally drive - industry body

share with twitter share with LinkedIn share with facebook
07/31/2020 | 10:20am EDT
People watch Indian Prime Minister Narendra Modi addressing the nation amid concerns about the spread of coronavirus disease (COVID-19), on TV screens inside a showroom in Ahmedabad

India's surprise move to restrict imports of TVs, announced on Thursday, will boost local manufacturing, strengthening Prime Minister Narendra Modi's flagship 'Make in India' drive, an industry body said.

The Indian trade ministry issued a notice late on Thursday saying it would restrict inbound shipments of TVs by requiring importers to get a special licence.

It gave few details but the regulation is expected to become effective soon, creating barriers for companies such as South Korea's Samsung Electronics and China's Xiaomi.

Both companies import some high-end models, although they make the bulk of their TVs for the Indian market locally through contract manufacturers. Japan's Sony makes 99% of its TVs for the Indian market locally and so is unlikely to be affected.

"We have sufficient manufacturing capacity in India and therefore imports of CBUs (completely built units) are not necessary," Pankaj Mohindroo, the Chairman of Indian Cellular and Electronics Association (ICEA) said in a statement on Friday.

"We are losing precious jobs because of unabated imports," he said.

Last month, in a similar move, India restricted tyre imports across categories of pneumatics and radials used in buses and motorcyles.

India's TV imports were worth $780 million in 2019/20, the ICEA said.

Samsung did not respond to a request for comment, while Xiaomi said 85% of its TVs were locally made and that the Indian government's push would bolster domestic production.

Modi has called for a self-reliant India and launched his 'Make in India' drive in 2014 to bolster the country's manufacturing sector and reduce imports of products made overseas.

New Delhi's relations with manufacturing giant China have in any case deteriorated following a border clash between the two nuclear armed rivals in June which resulted in the death of 20 Indian soldiers.

Late last month India banned 59, mostly Chinese, mobile apps including Bytedance's TikTok and Tencent's WeChat.

(Reporting by Sankalp Phartiyal; Editing by Susan Fenton)

Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG ELECTRONICS CO., LTD. 0.17% 57900 End-of-day quote.3.76%
SONY CORPORATION -0.67% 8100 End-of-day quote.9.44%
TENCENT HOLDINGS LIMITED -0.30% 503.5 End-of-day quote.34.05%
XIAOMI CORPORATION -0.60% 19.72 End-of-day quote.82.93%
share with twitter share with LinkedIn share with facebook
All news about TENCENT HOLDINGS LIMITED
09/26Justice Department asks judge to allow U.S. to bar WeChat from U.S. app store..
RE
09/25Judge to hold hearing Sunday on planned TikTok U.S. app store ban
RE
09/25TENCENT : U.S. Asks Judge to Allow WeChat Ban to Proceed
DJ
09/25TENCENT : India unlikely to revoke PUBG ban despite Tencent licence withdrawal
RE
09/25RELIANCE INDUSTRIES : India unlikely to revoke PUBG ban despite Tencent licence ..
RE
09/25Judge says U.S. must defend or delay TikTok app store ban by Friday
RE
09/24TikTok asks judge to block U.S. from barring app for download
RE
09/23TENCENT : Miniso Group Files for IPO
DJ
09/23China investors bet on volatility as U.S. presidential election heats up
RE
09/23Chevron asks employees to delete WeChat after U.S. ban - Bloomberg News
RE
More news
Financials
Sales 2020 479 B 70 174 M 70 174 M
Net income 2020 120 B 17 631 M 17 631 M
Net cash 2020 79 106 M 11 596 M 11 596 M
P/E ratio 2020 35,5x
Yield 2020 0,29%
Capitalization 4 216 B 618 B 618 B
EV / Sales 2020 8,64x
EV / Sales 2021 6,94x
Nbr of Employees 70 756
Free-Float 60,4%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Average target price 526,05 CNY
Last Close Price 443,22 CNY
Spread / Highest target 58,0%
Spread / Average Target 18,7%
Spread / Lowest Target -20,3%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LIMITED34.05%617 965
NETFLIX, INC.49.24%212 958
PROSUS N.V.17.09%147 361
NASPERS LIMITED30.04%74 246
UBER TECHNOLOGIES, INC.15.87%60 395
SPOTIFY TECHNOLOGY S.A.57.79%44 207