Shares of Indraprastha Gas ended 3 percent higher on Wednesday and has now gained in four out of the last five trading sessions. The stock has now risen 15 percent so far this year.

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Sources in the dealing rooms told CNBC-TV18 that FIIs have been buying the stock recently.

The stock has gained 15 percent since the closing of April 3.

Nearing Two-Month Highs

Benchmark indices gained for the eighth day in a row on Wednesday ahead of TCS results and key inflation data.

The Nifty 50 index has now added nearly 1,000 points since the March 20 low of 16,828. It also closed above its March 6 swing high of 17,799.

Dealers suggest that the market ended at the day's high backed by institutional buying. There was market at close basket buying that took place for the second day in a row.

Pharma stocks were the outperformers in today's session led by fresh buying and short covering by FIIs. Tech stocks continued to underperform.

Besides Indraprastha Gas, here are some other stocks that have been part of the dealing room chatter today:

Max Healthcare: Shares ended with gains of over 6 percent after a large deal that took place in the stock today. The deal saw 1.85 percent of the total equity or 1.8 crore shares exchange hands at an average price of Rs 451.5 apiece. Dealing rooms indicate that a leading foreign investor is likely to be the seller in this transaction.

Chola Investment: The stock ended 2.5 percent lower in today's session and has now declined in two out of the last three trading sessions. Shares have corrected from their 52-week high over the last three sessions. Dealers suggest that a leading long only fund is looking to book profits by selling at higher levels.

Tata Power & TVS Motor: Tata Power ended 0.2 percent lower on Wednesday after a seven-day surge, while TVS Motor gained for the sixth day to end near its 52-week high. FIIs have been buying both these stocks, according to dealers, and buying in these names was also part of the market at close basket buying that we mentioned earlier.

(Edited by : Hormaz Fatakia)