India's Larsen and Toubro drops on Mideast exposure amid oil-led risk-off mood

Larsen and Toubro

30/04/2026 08:59

** Shares of India's Larsen and Toubro LART.NS dip 2.45% to 3994.70 rupees vs 0.97% drop in benchmark Nifty 50 .NSEI

** Stock among top 10 losers in Nifty 50, in a broadly weaker market after oil prices surge on fears of possible U.S. military action against Iran

** LART has a significant presence in the Middle East, with the region accounting for 35% of quarterly revenue

** Separately, co said on Wednesday it will sell entire stake in unit L&T Metro Rail (Hyderabad) for 14.61 billion rupees ($153.35 million)

** Morgan Stanley says exit from loss-making Hyderabad Metro asset could improve return on equity by about 70 bps to 18.4%

** Adds divestment aligns with co's strategy to monetise non-core infrastructure assets and improve capital efficiency

** YTD, stock up 0.31% vs 8.41% decline in Nifty 50

($1 = 95.2725 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))