L&T Shares Plunge Over 4% on Kuwait Tender Scare, Recover After Clarification

• Larsen & Toubro (L&T) shares fell sharply on January 13 due to reports of Kuwait canceling oil project tenders.
• The company clarified that the mentioned project was not part of its order book, leading to some recovery.
• Middle East Economic Digest (MEED) reported Kuwait considering canceling $8.7 billion oil project tenders.
• L&T's current order book exceeds Rs 6.5 lakh crore, with a strong order inflow guidance for FY26.
• L&T also secured a large order for a cable-stayed bridge over the Muri Ganga River in West Bengal.

Why It Matters: L&T shares recovered from a significant dip after clarifying that reported Kuwait project cancellations didn't affect its order book.