Larsen and Toubro advances Tashkent airport project
Larsen & Toubro secured an LNTP for the New Tashkent International Airport project, classified as exceeding ₹15,000 cr. OI Charts data showed a 3.4% rise in futures open interest with short build-up as the stock traded at ₹3,627 on 16 Oct 2026.
after close1 source ↓machine-written, see hownot a recommendation
- LT close
- ₹3,627
- On the day
- -0.13%
- Futures OI, short build-up
- +3.4%
- Put-call ratio
- 0.71
- Max pain
- ₹3,750
Larsen & Toubro said on 19 Oct 2026 that its Public Spaces, Airports & Health business secured a Limited Notice to Proceed from the PPP consortium developing the New Tashkent International Airport in Uzbekistan. The LNTP follows an earlier EPC contract for the passenger terminal and associated landside infrastructure. The project is classified as an ultra-mega order, indicating a contractual value above ₹15,000 cr under the company’s order classification.
The LNTP allows initial engineering, detailed design, planning, procurement preparation and other pre-construction work to begin. Construction will start after the full Notice to Proceed is issued and the agreed contractual conditions are fulfilled. The development gives the infrastructure and airport construction businesses a sizeable international execution pipeline ✈️, while the staged approval means the immediate activity is preparatory rather than full-scale construction.
Key Points:
• The project involves a greenfield international airport in New Tashkent, with the passenger terminal and landside infrastructure forming the scope awarded to the company.
• The LNTP is an execution milestone, but the full NTP remains the next formal trigger before construction activities commence.
• OI Charts data for 16 Oct 2026 showed the stock at ₹3,627, down 0.1% on the day. It had declined 2.1% over five sessions and 5.5% over 20 sessions, while the 52-week range stood at ₹3,288 to ₹4,440.
• Futures open interest rose 3.4% to 14,319,900 shares, accompanied by a futures short build-up. The futures premium was 0.48%, the put-call ratio was 0.71 and volume was 1,875,108 shares.
The derivatives positioning indicates increased futures exposure alongside the recent price weakness, so the order announcement will be assessed against both the company’s execution updates and the broader infrastructure sentiment 🏗️. OI Charts data showed the largest put open interest at ₹3,650, the largest call open interest at ₹3,800 and max pain at ₹3,750 for the 27 Oct 2026 expiry. The ₹3,650 put wall and ₹3,800 call concentration identify the main near-term option positioning levels.
Investors will next track fulfilment of the contractual conditions, issuance of the full NTP and the transition from design and procurement preparation to construction. The project’s eventual contribution will depend on execution milestones and the timing of the airport development programme.
Source: ET Infra, 19 Oct 2026
Not investment advice. For informational purposes only.