Page 4 - Larsen & Toubro Ltd News

West Asia business 'near normal' amid war, says L&T's Subramanian Sarma

95% of sites are operating in its 'second home'; supply chain and logistics seen as key challenges, new opportunities likely post war

L&T hopes govt will sustain capex, widen deficit amid West Asia crisis

Amid concerns over a surge in import bill because of commodity price hardening in the wake of the Middle East conflict, Larsen & Toubro is hoping that the government continues with its capital expenditure even if it means a widening of fiscal deficit. The engineering, procurement and construction major feels the government should borrow more if needed to continue with capital expenditure, a senior official has said. "The import bill will go up because of oil and gas prices. The government will have to balance it. They will maybe temporarily raise the deficit, may be they will borrow more," its Deputy Managing Director Subramanian Sarma told reporters over the weekend. "Overall, if you look at it, our fiscal situation is pretty good... we have some headroom so that we don't compromise on the capital for the infrastructure," Sarma added. He also noted India has been able to curtail the fiscal deficit after the impact of the Covid pandemic. Spends on infrastructure are necessary to .

Little impact of West Asia conflict on biz, 95% projects on, says L&T

Engineering, procurement and construction major Larsen & Toubro has not seen any major business impact because of the ongoing Middle East conflict, as nearly 95 per cent of the projects are continuing to function, a top official has said. The company, which gets over 35 per cent of its revenue from the geography witnessing conflict after the US and Israel's attack on Iran and the subsequent retaliations, however, flagged logistics and supply chain as key challenges and noted revenue risks if the situation remains unchanged. L&T does not see any immediate impact on revenues as the 5 per cent of projects where work has been stalled do not contribute significantly to the topline, Subramanian Sarma, its deputy managing director, told reporters over the weekend. However, if the logistical issues do not get resolved in three months, there can be an impact through revenue deferment, he added. The top company official, who directly oversees the energy portfolio, declined to directly ..

HPCL, IDBI Bank, L&T: Top wealth destroyers of West Asia war; strategy here

For OMCs, analysts suggest the fall in stock prices reflects, to some extent, the pain on account of higher crude oil prices that surged past the $100 a barrel (bbl) mark

West Asia crisis weighs heavy on L&T; m-cap erodes by ₹60,843 cr

L&T shares have come under pressure over worries that the escalating Middle East conflict could ‌disrupt the company's projects in the region, ultimately impacting its financial performance

US-Iran war puts ₹70,000 cr dent in LIC's portfolio; banks, L&T worst hit

Holdings in SBI, ICICI Bank and HDFC Bank accounted for more than one-fifth of the losses for Life Insurance Corporation of India; while L&T alone created a 11 per cent dent, shows ACE Equity data.

Investing during panic has been rewarding historically, says ICICI Direct

Despite the near-term volatility, ICICI Direct said that markets have historically bounced back after geopolitical shocks