L&T Shares Fluctuate: Kuwait Tender Cancellation Fears vs. New Bridge Order Win

• L&T shares initially fell over 4% due to reports of Kuwait discussing cancellation of $8.7 billion oil project tenders.
• Kuwait's potential rebid of tenders was due to bids exceeding budget for five major upstream contracts, as per MEED.
• L&T clarified that the projects mentioned in the Kuwait report were not part of its current order book.
• Separately, L&T secured a 'significant' order (₹1,000-₹2,500 crore) for a 3.2km cable-stayed bridge over the Muri Ganga River in West Bengal.
• The new bridge will provide all-weather connectivity to Sagar Island, benefiting over 2 lakh residents and Ganga Sagar Mela pilgrims.

Why It Matters: L&T shares recovered after clarifying Kuwait tender reports and announcing a significant new bridge order.