Shares of Unichem Laboratories gained as much as 14.7 percent in trade on Wednesday, marking its best move in a single-day since November 2021. The stock has now gained in three out of the last four trading sessions.

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Sources within the dealing rooms have told CNBC-TV18 that the street is expecting a corporate development to take place on the stock soon.

Today's surge meant the stock reversed all its losses for the year and is now up 7 percent year-to-date.

Fourth Day Of Gains

A combination of HDFC twins and index heavyweights ensured the Nifty 50 index gained for the fourth day in a row. The index has now gained over 600 points during the last four trading sessions.

However, except the HDFC twins, which contributed to nearly half of the Nifty 50 gains, other financial names were under pressure, according to dealers.

All eyes are now on the monetary policy decision and dealers suggest that the street has priced in a 25 basis points rate hike tomorrow.

Dealers also said that the initial March quarter updates have been strong across financials and tech earnings starting next week will be keenly watched.

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

United Spirits: The stock recovered from the day's low to end with gains. It has now gained in three out of the last four trading sessions. Dealers said that the stock has seen sell flows in today's session. Brokerage firm Citi has also opened a negative catalyst watch on the stock, adding that margin recovery will be slower than anticipated

HCLTech: The technology major also recovered from the day's low to end higher for the fourth day in a row. JPMorgan has placed the stock on a negative catalyst watch ahead of its quarterly results.

Poonawalla Fincorp: Shares gave up most of the gains to end flat on Wednesday. However, dealers said that HNIs were buyers in the stock and that the street is expecting the housing finance deal to close soon.

(Edited by : Hormaz Fatakia)