L&T shares fall over 5% amid US-Iran tensions, emerge as top Nifty loser: Here's why

L&T shares fall over 5% amid US-Iran tensions, emerge as top Nifty loser: Here's why

• L&T shares fell over 5% after US-Israeli strikes in Middle East
• 55% of L&T's orders in 9 months were international
• L&T's Q3 profit dropped 4.2% due to one-time employee provisions

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Shares of infrastructure major Larsen & Toubro fell over 5% on March 2 following US-Israeli strikes that killed Iran's Supreme Leader Ali Khamenei

The company had said in the past that the Middle East is a strategically significant market, citing its long-standing presence across energy, infrastructure, renewables and technology sectors.

At 11 am on March 2, L&T shares were trading 5% lower at Rs 4,057.1 apiece. The stock was the top loser on Nifty index, which was trading 1.7% lower.

For the nine months ended December 31, 2025, international orders stood at Rs 1,91,084 crore, contributing 55% of the total order inflow, L&T said in January 2026.

In December quarter, international orders stood at Rs 66,848 crore, contributing 49% to the total order inflow. International revenues were Rs 38,775 crore, constituting 54% of total revenues.

"The GCC region, a major geography for the Company’s Projects business, is poised for strong growth, underpinned by major investments in AI infrastructure, Data Centers, and large-scale urban projects in Saudi Arabia and the UAE," L&T had said as part of its December quarter results presentation.

In January, L&T reported a 4.2% drop in consolidated profit after tax at Rs 3,215 crore in the December quarter due to one-time provision for employee benefits related to new labour codes.

The company posted a consolidated profit after tax (PAT) of Rs 3,359 crore in the year-ago period, L&T said in a filing to the BSE.

The total consolidated PAT for the quarter includes a one-time material provision of Rs 1,191 crore towards employee benefits arising from the implementation of the new labour codes, which has been classified under exceptional items, it said.