Stockman,
1) Tech-Mahindra.
It is a good company. No denying that. Numbers are nice. No worry on the performance front. But it is currently expensive. And that poses a unique problem. People who bought Infosys in later part of 2010 have only started to breakeven after 3 years! That is the problem with buying expensive.
As a long term investor, with Nifty dangling near All Time Highs, I would not want to buy anything. But, watch everything.
TechM is a gem, but too expensive. Put your cash in debt funds instead.
2) MCX
Has very strong points in its favour. It has a very unique business model which has no rival. Even NCDEX closed down. It has consistent flow of revenues and its only major expense is the software cost and employees. Point being, it does not need to keep pumping in the most precious resource every year just to keep the wheels rolling: Cash!
However, it is amidst some serious controversy. In such cases you have two choices. Either gamble. Buy when it sharply corrects. Or wait for it to make some serious consolidation. Let is show a sign that it has established again.
As far as the business model is concerned, it is a Thumbs Up! But, future may be murky due to the Jhol!