MARKET REPORT
Sensex rises 25 points on renewed buying
While old economy stocks hold on to their gains, tech stocks recover, after a subdued start.

TOP HEADLINES
• Govt orders CBI probe into Xerox case
• Serum Inst cuts cost of hepatitis-B vaccine
• Exim Bank offers $25 mn credit line to Russia
• FIIs can buy up to 100% of Infosys: RBI
• BJP demands CBI probe into Xerox bribes
• India's Jan-May FDI inflow up 60%
• Rupee ends at new 3-mth high on telco flows
• Karnataka sees 60% IT export growth
• No change in Dhirubhai Ambani's condition
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CORPORATE HEADLINES
• Ranbaxy gets nod fto market Lisinopril
• Fire at Shasun Chemicals and Drugs factory
• GDR Telefilms approves stock split
• Satyam clarifies on news item
• ICRA assigns A+ rating to Godrej CP plan
• Mascot expands Asian ops with China thrust
• R R Vederah is Deputy MD of BILT
- - More

MUTUAL FUNDS CHAT
'It's ideal time to start investing in equities'
'An exposure to equity will give very handsome returns from the current levels. If you are an aggresive investor, go for sector funds which are investing in basic core industries,' says Chandan Desai, Head (equity), J M Capital Management.

STOCK TALK
'BPO is the industry of the future'
'Over the next few years, ITES sector will be big. ITES stocks have gone up 4-5 times in nine months. Market will pay for growth,' says Ramesh Shrichand Damani.

SPECIAL
The road ahead for the new FM
The first job should be to tackle corruption and evasion of excise duties, says Ila Patnaik.

The return of Jaswant Singh
Jaswant Singh is the kind of a person who would consider the appointment of a finance secretary a key element in his game plan, writes A K Bhattacharya.

COLUMN
What makes Yashwant Sinha so indispensable?
'In retaining Mr Sinha and getting him to swap places with Mr Jaswant Singh, Mr Vajpayee has sent a very clear message that Charles Darwin was right about everything except the origin of the political species: it is the survival of the unfittest,' says Krishna Prasad.

The emperor has no clothes!
Would you call a nation that handles telephone calls of customers from all the world over and types medical records of the world's hospitals a superpower? asks Mahesh Nair.

FDI in print: It's all about money, honey!
Protests against allowing FDI in print media have nothing to do with national interest. The opposition is all about money, says Sucheta Dalal.

DAILY TECHNICALS
Trading strategy for July 4, 2002
Sensex, SSI, Telco, Tata Elxsi, HLL.. Check out what you can do on Thursday.

COLUMN
Coercive diplomacy: A double-edged sword
India may have scored brownie points over Pakistan in Washington, but India Inc has been badly hurt by the travel advisories issued by developed countries, says Paranjoy Guha Thakurta.

TAXATION
A risky affair
How do you quantify risk? How do you minimise it? What kind of risks do debt instruments pose? A N Shanbhag on risks threatening your investments.

INTERVIEW
'Telecom primed for a revolution'
The telecom industry will witness a revolution in the coming days and the number of mobile phone users in India will rise to 50 million by 2005, says Sunil Mittal, chairman, Bharti Enterprises.

THE BUDGET & GOVT POLICIES
The Credit Policy: Complete coverage
Union Budget 2002-2003: Complete Coverage Exim Policy 2002-03: Complete coverage
Economic Survey 2001-02: Complete coverage
Rail Budget 2002-03: Complete coverage

MONEY CHAT
'A career in IT is promising even today'
'IT industry grew at around 30% last year. Which other industry has shown higher growth? A job in any industry requires knowledge of IT. The career of a software professional remains bright,' says Pramod Khera, MD, Aptech Training Ltd.

TUTORIAL
What is the RBI's Monetary Policy?
What role does the Monetary Policy play? How significant is it? Read on...