Amazon operates two warehouses or "fulfillment centers" on the outskirts of Mumbai and Bangalore. The new facilities will be opened in Delhi, Chennai, Jaipur, Ahmedabad and outside Gurgaon.
The expansion will allow Amazon to extend its same-day and next-day delivery services in these cities, Reuters reports.
TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow."