Larsen & Toubro’s (L&T) shares declined 4% on January 13, 2026, following media reports that Kuwait is planning to cancel oil project tenders worth $8.7 billion. The company issued a clarification confirming that these tenders were not a part of its existing order book.
On January 13, 2026, reports emerged indicating that Kuwait is considering cancelling oil-related project tenders amounting to $8.7 billion. In response, L&T’s stock price dropped by 4%, reaching ₹3,846 in afternoon trading.
This marked a 1-month low for the stock, which had previously peaked at a 52-week high of ₹4,195 on January 5, 2026.
As per the news report, L&T clarified that the specific projects mentioned in the media were not included in the company's order book. It also stated that it could not comment on the status of tenders or the commercial decisions made by its clients.
The report, mentioned that Kuwait is reassessing multiple tender processes after receiving bids significantly above the allocated budgets. This has led to concerns regarding cost-efficiency and the fiscal implications of proceeding with those tenders.
As of September 30, 2025, L&T’s international orders represented 49% of its total order book. In October 2025, the company had expressed confidence in surpassing its FY26 group order inflow guidance of 10%.
It cited an upcoming pipeline of ₹3,57,000 crore in energy projects, with ₹2,93,000 crore in hydrocarbons, ₹46,000 crore in CarbonLite Solutions, and ₹18,000 crore in clean energy initiatives.
Read More: L&T Wins Major Order for Cable-Stayed Bridge Connecting Sagar Island in West Bengal!
As of January 13, 2026, at 3:26 PM, Larsen & Toubro share price on NSE was trading at ₹3,890 down by 3.21% from the previous closing price.
Larsen & Toubro has clarified that the reported cancellation of tenders by Kuwait will not impact its current projects, as these tenders were not part of its stated order book. Market reaction, however, led to a notable drop in share price.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 13, 2026, 3:45 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
