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August 8, 2002
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MARKET REPORT
Sensex sheds 59 points on delayed monsoon
Old economy stocks lead the fall on the bourses. Tech pivotals close weak. Tisco, Telco down.

TOP HEADLINES
CCEA to decide on UTI bailout soon: FM
TFL accounts inspection a routine, says RBI
A-I posts Rs 154-mn profit, plans new flight
Mumbai Police absolves TFL's Pendse
Parliament to go online via Cisco network
DCA to probe Tata Finance for irregularity
B'lore IT fair may spawn $300 mn deals
'Bangalore not vying with Hyderabad'
Drought-hit economy seen slowing in 02-03
Rs 80-bn package for state co-op banks
- - More

CORPORATE HEADLINES
Mindteck OKs 10% dividend for FY-02
Stelco Strips OKs issue of equity shares
MRPL OKs issue of shares on pref basis
Odissi Securities OKs merger scheme
Carrier Aircon announces book closure date
Thomas Cook Q3 results on August 21
- - More

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LATEST PRESS RELEASES
Chhattisgarh beckons investors from Gujarat
More releases...

SPECIAL
'RBI must use forex reserves productively'
RBI's repeated justification that large reserves are a protection against capital flight and currency crises is correct but only to a point, says Haseeb A Drabu.

Indo-US ties in a tangle
Conservationists are little surprised by the news that the Protocol has been signed because thus far, India has been following the US line on climate change, says Aditi Phadnis.

Industrial revival needed to lessen drought impact
Issues related to reducing the dependence of the Indian economy on the monsoon continue to be ignored, says Ila Patnaik.

How many more bailouts for the UTI?
Analysts say the Rs 5 billion-bailout will do little for the fund. Several issues need redressal first.

STOCK TALK
'Monsoon no prerequisite for bull market'
'We need divestment to begin a fresh bull run. 14 good monsoons have not made the index rise,' says Ramesh Shrichand Damani.

DAILY TECHNICALS
Trading strategy for August 9, 2002
Sensex, Satyam, Mastek, ITC, BHEL.... Check out what you can do on Friday.

INTERVIEW
'We should not press the panic button'
'We have enough grain to take care of the people of India.' Union Agriculture Minister Ajit Singh on the drought.

COLUMN
The rise and fall of the Johari brothers
They first acquired control over an urban cooperative bank and then milked it dry. But despite their connections, they are now behind bars.

'Govt must accept liability to help UTI survive'
UTI's existence depends on better support from the government and a gameplan that helps stop its continuous sales and improves returns on its schemes, says Sucheta Dalal.

'IT alone is not the answer'
'We also need to create a significant manufacturing base that leverages our other strengths,' says Anurag Pal.

Will JPC draft report be taken seriously?
Or are we waiting for another financial fraud to take place to realise the farce our parliamentary panels are in danger of becoming, asks Paranjoy Guha Thakurta.

DEATH OF A LEGEND
Dhirubhai Ambani, End of an Era
He single-handedly built a Rs 650-billion business empire in just 3 decades. The Reliance patriarch's village-boy-to-business-tycoon fairy tale has inspired thousands of Indians.

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

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

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In Focus
The UTI Crisis
Capital Market Crisis
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Interview
Dr M S Swaminathan on the Union Budget
Sami Zoghbi on Indian tourism
Cyrus Nallaseth on US immigration
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Columns
- Paranjoy Guha Thakurta on
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- Sucheta Dalal on
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