LT.NSE

Larsen & Toubro Ltd.

Mumbai: Benchmark indices Sensex and Nifty buckled under selling pressure Tuesday as fresh tensions flared in the Strait of Hormuz region and the ceasefire between the US and Iran came under strain. The rupee hitting a record low against the US dollar amid elevated crude prices also made investors cautious. In a volatile session, the 30-share BSE Sensex dropped 251.61 points, or 0.33 per cent, to settle at 77,017.79. During the day, it tanked 754.37 points, or 0.97 per cent, to 76,515.03. The 50-share NSE Nifty edged lower by 86.50 points, or 0.36 per cent, to end at 24,032.80. “Domestic equities witnessed a volatile session, closing lower as post-election optimism faded and sentiment re-aligned with global weakness amid rising geopolitical tensions. “Elevated crude prices continued to pressure the rupee, which slipped to record lows. Despite these headwinds, the ongoing earnings season, with results slightly ahead of expectations, provided some support and triggered selective bottom-fishing,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

BENGALURU, May 5 - India's Larsen & Toubro posted a 3.1% fall in quarterly profit on Tuesday as the Middle East war disrupted the infrastructure giant's projects in the region.

BENGALURU, May 5 - India's Larsen & Toubro posted a 3.1% fall in quarterly profit on Tuesday as the Middle East war disrupted the infrastructure giant's projects in the region.

Indian shares fell, and the rupee hit an all-time low on Tuesday, as high crude oil prices linked to the Middle East conflict weighed on risk sentiment. The Nifty 50 declined 0.36% to 24,032.80 and the BSE Sensex shed 0.33% to 77,017.79. The rupee slid to 95.4325 per U.S. dollar. Brent crude surged to an intraday high of $115.3 a barrel on Monday after Iran stepped up attacks on the UAE and ships in the Gulf, including several in the Strait of Hormuz. While oil prices eased to about $113 on Tuesday on signs the U.S. Navy is loosening Iran’s grip over the strait, they remain elevated, underscoring persistent macroeconomic risks. Higher crude prices are a negative for the world’s third-largest importer of the commodity, as they add to inflationary pressures and drag economic growth and corporate earnings. “Fresh U.S.-Iran hostilities rattled sentiment, implying that the crude-led market gyrations will persist until clearer signs of a resolution to the conflict emerge,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “While higher crude prices and a weakening rupee are fuelling record foreign outflows, the absence of any major negative surprises this earnings season is helping cushion the market against sharper losses,” Gandhi said.

Indian shares fell, and the rupee hit an all-time low on Tuesday, as high crude oil prices linked to the Middle East conflict weighed on risk sentiment. The Nifty 50 declined 0.36% to 24,032.80 and the BSE Sensex shed 0.33% to 77,017.79. The rupee slid to 95.4325 per U.S. dollar. Brent crude surged to an intraday high of $115.3 a barrel on Monday after Iran stepped up attacks on the UAE and ships in the Gulf, including several in the Strait of Hormuz. While oil prices eased to about $113 on Tuesday on signs the U.S. Navy is loosening Iran’s grip over the strait, they remain elevated, underscoring persistent macroeconomic risks. Higher crude prices are a negative for the world’s third-largest importer of the commodity, as they add to inflationary pressures and drag economic growth and corporate earnings. “Fresh U.S.-Iran hostilities rattled sentiment, implying that the crude-led market gyrations will persist until clearer signs of a resolution to the conflict emerge,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “While higher crude prices and a weakening rupee are fuelling record foreign outflows, the absence of any major negative surprises this earnings season is helping cushion the market against sharper losses,” Gandhi said.

Larsen & Toubro has secured a landmark deal to develop a state-of-the-art coal-to-ammonium nitrate facility in Odisha, poised to deliver 2,000 tonnes of ammonium nitrate daily. This venture not only bolsters India's aspirations for enhanced coal gasification but also reduces dependency on imports, perfectly aligning with the Aatmanirbhar Bharat initiative.

Larsen & Toubro has secured a landmark deal to develop a state-of-the-art coal-to-ammonium nitrate facility in Odisha, poised to deliver 2,000 tonnes of ammonium nitrate daily. This venture not only bolsters India's aspirations for enhanced coal gasification but also reduces dependency on imports, perfectly aligning with the Aatmanirbhar Bharat initiative.

Indian shares are poised to open lower on Tuesday as a sharp rise in crude oil prices overnight weighs on investor sentiment, while earnings-linked stock-specific moves ​are also expected to remain in focus. GIFT Nifty futures were trading ‌at 24,077 points, as of 8:06 a.m. IST, indicating that the benchmark Nifty 50 would open below Monday’s close of 24,119.30. Other Asian stock markets fell 0.8%, while Wall Street equities settled lower ​overnight. Brent crude rose to an intraday high of $115.3 a barrel on Monday ​after Iran stepped up attacks on the United Arab Emirates and ships ⁠in the Middle East Gulf, including several in the Strait of Hormuz. While crude oil ​prices eased a bit to about $113 on Tuesday, they remain elevated. Higher crude prices are ​a negative for the world’s third-largest importer of the commodity, as they add to inflationary pressures and drag economic growth and corporate earnings. Elevated crude oil prices are offsetting domestic positives, both on ​earnings and political clarity after state election outcomes, said two analysts.

Indian shares are poised to open lower on Tuesday as a sharp rise in crude oil prices overnight weighs on investor sentiment, while earnings-linked stock-specific moves ​are also expected to remain in focus. GIFT Nifty futures were trading ‌at 24,077 points, as of 8:06 a.m. IST, indicating that the benchmark Nifty 50 would open below Monday’s close of 24,119.30. Other Asian stock markets fell 0.8%, while Wall Street equities settled lower ​overnight. Brent crude rose to an intraday high of $115.3 a barrel on Monday ​after Iran stepped up attacks on the United Arab Emirates and ships ⁠in the Middle East Gulf, including several in the Strait of Hormuz. While crude oil ​prices eased a bit to about $113 on Tuesday, they remain elevated. Higher crude prices are ​a negative for the world’s third-largest importer of the commodity, as they add to inflationary pressures and drag economic growth and corporate earnings. Elevated crude oil prices are offsetting domestic positives, both on ​earnings and political clarity after state election outcomes, said two analysts.