L&T shares drop over 4% even as co clarifies rumors of potential cancellation of Kuwait oil projects
Larsen & Toubro shares fell after reports said that Kuwait may cancel oil project tenders worth $8.7 billion. The decline followed news that Kuwait Oil Company is reviewing its capital expenditure after bids exceeded budget estimates, putting major tenders—where L&T was the lowest bidder for over $4.5 billion—at risk.
Larsen & Toubro shares fell after reports said that Kuwait may cancel oil project tenders worth $8.7 billion. The decline followed news that Kuwait Oil Company is reviewing its capital expenditure after bids exceeded budget estimates, putting major tenders—where L&T was the lowest bidder for over $4.5 billion—at risk.
