Larsen & Toubro shares fall on World Bank sanctions

MUMBAI (Reuters) - Shares in Larsen & Toubro Ltd recover 1 percent after falling as much as 2.7 percent on Monday after World Bank barred the company from participating in any of the organisation's projects for six months.

L&T said on Saturday the World Bank sanctions were "not expected to have material impact on the Company's present or future operations or its profitability or financials," according to an exchange filing.

L&T shares were up 1 percent as of 11:34 a.m.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)