L&T Shares Continue To Decline At NSE Amid Controversial 90-Hour Workweek Remarks From CEO SN Subrahmanyan

Larsen & Toubro or L&T, one of India's most renowned conglomerates known for its infrastructure projects in particular, has been in the news, arguably for all the bad reasons in the past week.

The 90-Hour Debate

The company CEO and MD, SN Subrahmanyan, through the magic of his words, riled up a debate that furthered arguments on work-life balance. Meanwhile, the shares of companies listed in the equity markets continued to get trimmed by investors.

For context, SN Subrahmanyan, while speaking at the company event, said that he regrets that he cannot make his employees work on Sunday. In addition, Subrahmanyan, who took over reins of the company in 2017 said that he wants Indians to work 90 hours a day, like, according to workers in China.

This remark kicked up a storm online and elsewhere, with political parties, celebrities and industrialists joining the conversation, many of them slamming the remarks and potential toxicity at work.

L&T Shares Trade With Cuts

Meanwhile, when we look at the company shares at the equity market, they have dimmed over the recent past. It has had more terms of red than green. On Monday, the company shares declined by 0.95 per cent or Rs 33.45.

When we look at the larger picture, we get to observe that just in the past five days of trade, ever since the controversy broke out, the company shares have declined by 2.87 per cent or Rs 104.00 per piece.

Furthermore, when we look at the performance of the company shares over the past month, the Mumbai-based company has seen its stock value dip by 9.58 per cent or Rs 372.50.

Not just that, in the past 6 months of trade, the company shares have diminished by a cumulative 3.75 per cent or Rs 137.10, dropping to Rs 3,514.50 per share.