L&T extends loss on missing order

Sensex

Shares in Larsen & Toubro Ltd, India's biggest engineering conglomerate, fell as much as 2.7 per cent on Thursday, dropping for a second day after it missed out on a 160-billion-rupee bulk tender by utility NTPC, dealers said.

The company, along with Japan's Mitsubishi Heavy Industries, emerged as the third lowest bidder for the order.

This would be viewed in general as a negative for L&T's power equipment joint venture with Mitsubishi, Nomura said in a note. At 9:43 a.m, L&T shares were down 1.57 per cent at 1,287 rupees.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus