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.

Markets rebounding and so is my interest! Good feeling when for once, markets behave as per my expectations! I expected 15600-700 to be a strong support. The index rebounded just from above those levels. But, Hind Lever is still out of reach. Guess, these "The Business Line" guys overheard me. The recommendation in "The Business Line" has taken the price further away from my planned entry price. Now my wait has extended. Anyway, now it is better to ride the bounce and search for some weak stocks to exit even if they are at minimum gain percentages. I think we may be in for an extended period of sideways movement after this bounce wears off! So guys, start piling the spare cash to purchase some of your favorite stocks!

The markets look boring. The 200 DMA was tested on monday before it rebounded. The market on the face of it looks to be boring. But I get a feeling that this may be the calm before the storm. This phase of sideways movement is a good sign for the longer term. However a new set of stocks could be the next performers. Also the run up after the steep fall last year also was quite sharp, so for once may be we can agree with the technical analysts who say that the indices are filling up gaps.
By the way, I have dropped Tata communications from my radar. But Hind Lever is still enticing. But Rs. 220 levels seem to be just so much far though only a 10% lower from current levels.
As always keeping my eyes open. I think construction stocks and cyclicals should be avoided and also rate sensitives to be closely watched.