LT.NSE

Larsen & Toubro Ltd.

Indian shares suffered their worst fall in a month on Monday, closing at nearly one-year lows, as a surge in crude oil prices sparked concerns over growth and inflation in Asia’s third-largest economy, which is one of the world’s top oil importers. Higher crude prices pose a significant challenge for India, the world’s third-largest oil importer, as they could raise inflation and amplify pressure on the rupee, which slumped to a record low against the U.S. dollar. Oil prices jumped as much as 28.9% to their highest since mid-2022 as the Iran war dragged on and Tehran named Mojtaba Khamenei as successor to his father, Ali Khamenei, in a move seen as a direct rebuke to U.S. President Donald Trump. India’s blue-chip Nifty 50 index slid 1.73% to a 10-month closing low of 24,028.05 with a volatility measure surging to a 21-month high. The BSE Sensex shed 1.71% to an 11-month low of 77,566.16, settling very close to confirming a correction from its record closing high in December last year.

Mumbai: Indian equity markets witnessed their second consecutive “Black Monday” as the benchmark BSE Sensex plunged 1,352.74 points (1.71%) to close at 77,566.16, reflecting growing investor anxiety over the escalating conflict in the Middle East and the resulting surge in crude oil prices. Nifty 50 also declined sharply, falling 422.40 points (1.73%) to settle at 24,028.05. Markets opened with steep losses of nearly 3% during early trade, mirroring weak global cues and fears that rising oil prices could trigger inflation and widen India’s trade deficit. Since India imports more than 80% of its crude oil needs, any prolonged spike in energy prices tends to weigh heavily on investor sentiment. Among the biggest losers on the benchmark indices were InterGlobe Aviation, Shriram Finance, and Larsen & Toubro, which led the decline amid broad-based selling across sectors. Banking, oil and gas, and infrastructure stocks faced heavy pressure as investors turned cautious. Market experts say the volatility could persist if tensions in the Middle East continue to push global crude prices higher, raising concerns about inflation, currency weakness, and foreign investor outflows from Indian equities.

Larsen & Toubro lost Rs 45,629 crore in market value during a weak trading week as stock markets declined sharply. Eight of India’s top companies together lost Rs 2.81 lakh crore. Banking stocks saw major losses, while Reliance Industries and Infosys were the only companies to post gains.

In this briefing: China's VAT Rebate Cut: A Quiet Tailwind for RIL, MRPL, and Chennai Petro Auto Monthly Sales Volume - February 2026 Why Iran Is Striking the Gulf to Counter US and Israel? Larsen & Toubro: Assessing the Impact of Middle East Geopolitical Risks on Project Execution Urban Company: InstaHelp Could Be the ‘Blinkit’ Play 1. China's VAT Rebate Cut: A Quiet Tailwind for RIL, MRPL, and Chennai Petro China cut its VAT export tax rebate on refined petroleum products from 13% to 9% in December 2024, compressing Chinese refinery export margins by ~$3/bbl. With Chinese clean product exports falling ~13% year-on-year, Asian crack spreads have recovered sharply, directly lifting gross refining margins for India's export-oriented refiners. RIL, MRPL, and CPCL offer differentiated leverage to this structural tailwind. CPCL has the highest earnings sensitivity; MRPL the most direct margin play; and RIL the scale. 2. Auto Monthly Sales Volume - February 2026 Over Apr’25–Feb’26, cumulative 2W domestic sales grew by 10% YoY to 1.8 Cr units, supported by strong performances from TVS (+20%), RE (+24%), and Hero (+8%).