L&T Stock Falls 4% on Kuwait Tender Cancellation Reports; Company Clarifies Projects Not in Order Book
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Moneycontrol•13-01-2026, 15:05
L&T Stock Falls 4% on Kuwait Tender Cancellation Reports; Company Clarifies Projects Not in Order Book
- •Larsen & Toubro (L&T) stock fell 4% after reports of Kuwait considering cancelling $8.7 billion oil project tenders.
- •L&T clarified on January 13 that the projects mentioned in media reports were not part of its current order book.
- •The company stated it cannot comment on the status of tenders or commercial decisions of its clients.
- •L&T shares dropped to a one-month low of Rs 3,846 apiece, down 8% from its 52-week high on January 5.
- •Kuwait's potential cancellation is due to bids exceeding budget, raising cost efficiency concerns, as per MEED.
Why It Matters: L&T stock dipped on Kuwait tender cancellation rumors, but the company confirmed these projects were not in its order book.
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