The Exchange has sought clarification from Larsen & Toubro Limited with respect to recent news item captioned Kuwait is discussing cancellation of oil project tenders worth $8.7 bn, says report; L&T shares fall 3%: Here's why. The response from the Company is attached.
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On the reaction day the stock moved 3.1 pts less than Nifty 100 and 3.0 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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L&T responded to a stock exchange query triggered by a Moneycontrol report saying Kuwait may cancel oil project tenders worth $8.7 billion, which had dragged L&T shares down 3%. The company clarified that the projects mentioned in the report were never part of L&T's order book. L&T also stated it cannot comment on the status of tenders or commercial decisions of its clients. The filing was made on January 13, 2026, signed by Company Secretary Subramanian Narayan.
This clarification should ease investor concerns — the feared project exposure does not exist in L&T's order book, which may help the stock recover the 3% loss. However, broader Kuwait business exposure is still left unaddressed.