L&T falls; oil slide stokes concern on Middle East orders

Reuters Market Eye - Larsen & Toubro falls 1.1 pct.

L&T shares fell 1.6 percent last week, underperforming the NSE index <.NSEI> which gained 1.3 percent.

Lower crude prices may lead to lower investment and order flows from the Middle East - analysts.

L&T announced $21 bn of orders in FY14, of which one-third came from the Middle East - Jefferies said in a note on Sept. 19.

Oil hits five-year low in longest losing streak since 2008 crisis.

L&T is moving decisively towards consolidating its international operations through a replication in the Middle East of its domestic structure and systems - annual report.

(Reporting by Abhishek Vishnoi)