Larsen & Toubro Shares Decline Amid Middle East Geopolitical Tensions and Rising Oil Prices

Shares of Larsen & Toubro (L&T), India's largest infrastructure firm, fell between 5.3% and 7.4% amid escalating geopolitical tensions following US and Israeli strikes on Iran. The company's significant Middle East exposure, accounting for about 37% of its Rs 7.33 lakh crore order book, raises concerns over project execution risks and supply chain disruptions. Rising crude prices and market risk aversion also contributed to the decline, with investors wary of potential delays and increased competition in the region's real estate sector.