Larsen & Toubro has clarified that oil project tenders in Kuwait, reportedly facing cancellation, were not part of its order book. This statement comes after the company’s shares saw a significant drop. Kuwait is reportedly reviewing oil project tenders worth approximately $8.7 billion due to bids exceeding budgets. L&T was the lowest bidder for tenders exceeding $4.5 billion.
L&T moves to calm nerves after report flags possible $8.7 bln Kuwait cancellations
