Stocks
L&T shares sink over 5% as Middle East conflict sparks investor fears
Mumbai/IBNS: The share price of Larsen & Toubro Ltd. plunged over 5% in early trading on Monday, tracking heightened tensions in the Middle East amid the escalating conflict involving Iran, Israel and the United States, media reports said.
India’s largest infrastructure company has significant business exposure in the Middle East, making investors wary of potential disruptions.
Nearly 49% of L&T’s consolidated order book comes from its international business, of which around 80% is concentrated in the UAE, Saudi Arabia and the wider Middle East region.
Overall, the company has about 37% of its total order book exposure linked to the Middle East.
Acknowledging the region as strategically important to its operations, L&T said it is closely monitoring the evolving situation.
The company confirmed that all its employees, workers and assets remain safe.
“Our management committee is being updated on a real-time basis by our on-ground teams, business partners and local state administrations to ensure full situational awareness at all times,” an L&T spokesperson told CNBC-TV18.
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