Stocks in news: IOC, Edelweiss and more

With the Sensex trading in choppy waters on Wednesday here are the five stocks that remained in news today:

1. Larsen & Toubro: Larsen & Toubro on Wednesday said power transmission and distribution business of L&T Construction has bagged orders worth Rs 864 crore from Qatar General Electricity and Water Corporation 'KAHRAMAA'. The power transmission and distribution business of L&T Construction has won a prestigious order in the Middle East from Qatar General Electricity and Water Corporation 'KAHRAMAA' worth QAR (Qatari Riyal) 491.45 million (Rs 864 crore), Larsen & Toubro said in a BSE filing. Its shares fell by 2.04 per cent to close at Rs 1592.50 apiece on Wednesday.
   
2. Oil and Natural Gas Corporation (ONGC): ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corp, has sought a one year extension of exploration licence for a Vietnam oil block in the contested waters of the South China Sea despite poor hydrocarbon prospective. OVL has applied to the Vietnamese authorities for a third extension of the exploration licence for Block 128 to maintain India's strategic interest in the South China Sea, a company official said. Its shares fell by 2.53 per cent to close at Rs 224.95 apiece on Wednesday.
3. State Bank of India (SBI): In a U-turn from her earlier stated position on the entry of payments banks, SBI chief Arundhati Bhattacharya on Tuesday said there is nothing negative about payment banks and there is a huge opportunity for the entire banking system. Moreover, SBI said it will issue equity shares on preferential basis to the government for capital infusion of Rs 5,393 crore. Pursuant to in-principle approval from government, the central board of the bank on Tuesday decided to offer and issue shares to the government, SBI said in a BSE filing. Its shares fell by 3 per cent to close at Rs 245.80 apiece on Wednesday.
4. Indian Oil Corporation (IOC): Shares of State-owned Indian Oil Corp on Wednesday surged nearly five per cent after the company signed a pact with Nepal Oil Corp for Rs 275 crore oil pipeline. The company has signed an agreement with Nepal Oil Corp (NOC) to lay a Rs 275-crore oil pipeline from Raxaul in Bihar to Amlekhgunj in Nepal, it said in a regulatory filing on Tuesday. Its shares fell by 0.22 per cent to close at Rs 393.90 apiece on Wednesday. 
5. Edelweiss Financial Services: Shares of Edelweiss Financial Services on Wednesday surged over 4 per cent, after its subsidiary Edelweiss Tokio Life Insurance got necessary approval from FIPB to increase its FDI cap. The Foreign Investment Promotion Board (FIPB) on Tuesday gave its nod to the proposal of Edelweiss Tokio Life Insurance Co Ltd to increase foreign equity from 26 per cent to 49 per cent of its paid-up capital. Its shares rose by 1.48 per cent to close at Rs 54.90 apiece on Wednesday.