The buy back form Hind Lever suggests that the share value is seen as undervalued by the management. There was this buy back offer some time back which was not much spoken about. Apcotex industries bought back shares from the market at Rs.88 when the share price was at 75. Now the price has climbed to 125. This is one scrip to watch out for.
Also the StanChart IDR seems to be a good investment option. This is one foreign bank with concentrated presence in emerging markets. I think they could be well positioned to deploy low cost funds in emerging markets and thereby enjoy healthy NIM (Nett Interest Margin). The markets may be rangebound. But let me tell you there is lot of underlying activity.