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L&T shares recover after World Bank sanctions weigh

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Reuters MUMBAI
Last Updated : Mar 11 2013 | 12:20 PM IST

MUMBAI (Reuters) - Shares in Larsen & Toubro Ltd recover 1 percent after falling as much as 2.7 percent on Monday after World Bank barred the company from participating in any of the organisation's projects for six months.

L&T said on Saturday the World Bank sanctions were "not expected to have material impact on the Company's present or future operations or its profitability or financials," according to an exchange filing.

L&T shares were up 1 percent as of 11:34 a.m.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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First Published: Mar 11 2013 | 12:03 PM IST

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