LTF

shares rise after clarification on Kuwait tenders, 'large' order win from Torrent Energy

Larsen and Toubro Ltd.'s share price rose 0.32 per cent as it opened to trade higher on Wednesday following a large order from Torrent Energy Storage Solutions. The stock had come udner pressure on Tuesday following Middle East Economic Digest report suggesting Kuwait was discussing the cancellation of oil project tenders worth $8.7 billion. (Rs 78,456 crore) The compay later clarfieid to exchanges and said the projects referred to in the report were not part of its order book. It also added that, "further, the Company can’t comment on the status of tenders or commercial decisions of its Clients."