Amazon. com, Inc [NASDAQ: AMZN] announced it has invested $308 million (23.10 billion rupees) in its Indian unit, Amazon Seller Services. Amazon aimed to strengthen the business of Amazon Seller in the time of pandemic when people preferred to shop online.
Due to the coronavirus pandemic, the company’s India unit saw a surge in online shopping and decided to hire 50,000 temporary workers to meet the demands. Its main competitor in India is Walmart Inc’s Flipkart.
Indian law allows foreign e-commerce companies to act as a “marketplace”, and connects buyers with online sellers. When India went into lockdown, Amazon encouraged small businesses to use local platforms to promote local businesses and expand their reach.
In the past 52-weeks of trading this stock has fluctuated between a low of $1626.03 and a peak of $3059.88. This company had a trading volume of 5.26 million as compared to the avearge volume of 4.79 million.
Amazon’s shared had traded down 1.86% at $3000.12 during the last trading session of Tuesday. This company’s gross margin is currently 40.60%, profit margin is 3.60% and an operating margin of 4.80%. Continuing to look at its profitablitiy, this corporation’s return on investment, equity and assets is 11.70%, 17.80% and 5.00%, respectively.