Shares in Larsen amp; Toubro Ltd,India8217;s biggest engineering conglomerate,fell as much as 2.7 per cent on Thursday,dropping for a second day after it missed out on a 160-billion-rupee bulk tender by utility NTPC,dealers said.
The company,along with Japan8217;s Mitsubishi Heavy Industries,emerged as the third lowest bidder for the order.
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This would be viewed in general as a negative for Lamp;T8217;s power equipment joint venture with Mitsubishi,Nomura said in a note. At 9:43 a.m,Lamp;T shares were down 1.57 per cent at 1,287 rupees.
