General stuff for the stock market

For the last couple of days, the Indian stock market has not been reacting as one would have liked. After a good upward move on mid-cap stocks in the past few weeks, there has been a small correction in the last 2-3 days, with the market falling around 100-200 points per day. One can hope that this is just a consolidation phase. The overall trend for the future in terms of growth looks impressive, with GDP growth being higher than in previous quarters, although one has to worry about what the failure of the monsoon means for the country.
Mid-caps seem to be again the flavour of the season, and some of my mid-caps (risky ones though) have gained a bit in the last one month, atleast 15-30%, which is good growth. These are across sectors. Some of these stocks are:

Nirlon- This is a real estate story, with the company having developed some good commercial real estate, and if commercial rents pick up, then the company has a good story on its hands.
Ashiana Housing – the revival of the realty story means that well regarded companies do well, and Ashiana Housing is one of these companies. The company has gained from a low of 45 to currently 62.
Hindustan Constructions – The company has yet to gain significantly, but I am cautious about the long term prospects of the company.
JMC Projects – The company is doing well, and is a well regarded small player in the construction / engineering area
KLG Systel – The company has seen a massive fall in its valuations since January 2008, but is now on the recovery path, having increased to 2.5 times its value of last October. It is a well regarded provider of solutions to the Government.

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