India's L&T heads for worst month in six years on Mideast exposure worries

Larsen and Toubro

30/03/2026 10:31

** Shares of Larsen & Toubro LART.NS fall 18% in March, on course for their worst month since March 2020

** Infrastructure major down 1.6% on Monday

** LART has expanded its Middle East presence over the last few years, with region accounting for 35% of quarterly revenue

** Stock among biggest losers this month on the blue-chip Nifty 50 .NSEI index, which is heading for its worst month since March 2020

** Goldman Sachs said in a note earlier this month that while project delays are likely due to the Iran war, LART's  medium-term outlook was unlikely to change

** Five analysts have cut their PT on LART this month, bringing the median PT down to 4,612.50 rupees from 4,715 rupees in February - data compiled by LSEG

** Analysts rate the stock "buy" on average - data compiled by LSEG

** LART is down 14.2% so far this year and is on track for its worst quarter in six years

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))