Larsen and Toubro Slumped 6% Amid US-Israel-Iran War 

Shares of Larsen and Toubro Ltd (L&T) fell more than 6% in early trading on Monday, 2 March, following the Iran-Israel-US war that began over the weekend. L&T, India’s largest infrastructure corporation, has extensive exposure to the Middle East.

The overseas sector accounted for up to Rs 3.6 lakh crore, or 49% of the total order book. More than 80% came from the UAE, Saudi Arabia, and the Middle East region. L&T’s order book exposure to the Middle East is 37%, and order inflows are 33% in the first nine months of fiscal year 2026.

According to an L&T spokeswoman, the Middle East is a strategically important market for the corporation, with a strong and long-standing presence in areas such as energy, renewables, infrastructure, and technology.

The company stated that it is closely monitoring the situation and has confirmed that all of its employees, workers, and assets on the ground are secure. “Our management committee is being updated on a real-time basis by our on-ground teams, business partners and local state administrations to ensure full situational awareness at all times,” the L&T spokesperon said.

As a precautionary measure, the corporation issued a travel advise to all affected personnel, instructing them to avoid any non-essential travel or movement. “We are in constant touch with our clients and are following government advisories,” the spokesperon added.

On Saturday morning, February 28, Israel and the United States launched an attack on Iran. Iran has replied by targeting US naval sites in Bahrain, the UAE, and Kuwait. The US and Israel’s attacks killed Iran’s Supreme Leader Ali Khamenei. Following the strikes, Iran stated that “there were no red lines now and everything is possible”. Since then, it has launched a volley of strikes across the Middle East and Israel, causing airspace closures, trapped travelers, and bringing work and life to a halt in the region.

L&T recently won an order worth up to Rs 10,000 crore across the Middle East and India.

Following the company’s third quarter earnings, L&T’s management maintained its full-year guidance across criteria, stating that it would exceed its order inflow growth guidance of 10% for the year. Management also reaffirmed its FY26 sales growth and core margin target of 15% and 8%, respectively.

At 12:15 pm, the shares of Larsen and Toubro were trading 6.04% lower at Rs 4,020 on NSE.

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