Description
Larsen & Toubro clarifies media reports about Kuwait discussing cancellation of $8.7 billion oil project tenders, stating the projects were not part of L&T's order book.
Summary
Larsen & Toubro Limited issued a clarification in response to a media report on January 13, 2026, regarding discussions on possible cancellation of certain oil project tenders worth $8.7 billion in Kuwait. The company clarified that the projects referred to in the media report were not part of L&T’s order book, and therefore the reported tender cancellation discussions have no impact on the company’s existing business.
Key Points
- Media report on Moneycontrol.com dated January 13, 2026, reported Kuwait discussing cancellation of oil project tenders worth $8.7 billion
- The report linked this news to a 3% fall in L&T shares
- L&T clarified that the projects mentioned were not part of the company’s order book
- Company stated it cannot comment on the status of tenders or commercial decisions of its clients
- Stock codes: BSE 500510, NSE LT
Regulatory Changes
No regulatory changes announced.
Compliance Requirements
No compliance requirements. This is a routine clarification in response to stock exchange query about a news article.
Important Dates
- January 13, 2026: Date of clarification letter
- January 13, 2026: Date of media report being clarified
Impact Assessment
The clarification has minimal impact on L&T’s business operations as the company explicitly stated that the projects referenced in the media report were not part of its order book. This means the potential tender cancellations in Kuwait do not affect L&T’s existing commitments or revenue pipeline. The clarification was issued to address market speculation and share price volatility triggered by the media report.
Impact Justification
Clarification that projects not in order book, no material impact on company's business