Mumbai, Jan. 13 -- According to a Middle East-focused business news platform, Kuwait is reviewing five major upstream oil and gas contracts after bids reportedly came in above budget. The report said L&T was the lowest bidder in tenders valued at more than $4.5 billion, making the stock sensitive to any adverse developments.

Responding to a BSE query, L&T clarified that the projects referred to in the media report are not part of its order book. The company added that it does not comment on the status of tenders or the commercial decisions of its clients, easing concerns about any impact on confirmed orders.

Separately, L&T has secured a significant order in its transportation infrastructure business to construct an arterial extradosed ...