MARKET REPORT
Sensex sheds 97 pts on Musharraf’s speech
Players feel the possibility of a war is remote, but border tension will keep the sentiment bearish.

TOP HEADLINES
• GE invests $80m in its Indian tech centre
• Ketan Sheth remanded to PC till June 6
• 'Closed NTC mills' wage bill Rs 7 bn'
• Sebi may get search, seizure powers
• Daewoo India to be sold to repay creditors
• India ranks lowest in labour productivity
• Oil exploration roadshow on in Singapore
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CORPORATE HEADLINES
• VSNL Q4 net down by 29.31%
• VSNL to invest in share capital of Tata Tele
• J K Industries Q4 net at Rs 44 mn
• Kinetic Motor FY-02 net down by 10.75%
• Menon Bearings FY-02 net up by 15.05%
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COLUMN
Experiments with ITruth
'A premature hop onto the technology bandwagon without a thought for the underlying process yields less than optimum results,' says Sanjay Handu.

Why did Reliance bid so high for IPCL?
'The Ambanis will now control at two-thirds of the Indian petrochemicals market, spawning a near-monopoly. But should this have been allowed?' asks Paranjoy Guha Thakurta.

The future looks bleak for Dabhol plant
'Unless the cost of power generated by the DPC is reduced, there is no point in trying to run the plant,' says Sucheta Dalal.

SPECIAL
Another Bhopal in the making in Mumbai?
Mumbai's municipal corporation has signed a waste disposal agreement that is based on a hazardous technology, says Gopal Krishna.

What can investors do in times of war…?
When uncertainty rocks the markets, it's best to stay invested in stocks of fundamentally sound companies with good growth prospects.

The true cost of reservation
For investments to revive, entrepreneurs should be allowed unlimited growth, says Subir Gokarn.

NEWSMAKER
Meet Sinha Jr: Managing finance runs in the blood: BS
Sumant Sinha, son of Finance Minister Yashwant Sinha, has been appointed president (corporate finance) of the Aditya Birla group.

DAILY TECHNICALS
Trading strategy for May 29, 2002
Sensex, Infosys, ACC, Satyam Comp, Dr Reddy's... Check out what you can do on Wednesday.

TAXATION
The housing tax trap
The tax laws on selling houses are complex and contradictory and need to be changed, says A N Shanbhag.

STOCK TALK
'IT enabled services is showing rapid growth'
'It has great opportunity. I am a strong believer in it. But Nasscom's projection of a $ 20 billion industry by 2008 is too ambitious,' says Ramesh Shrichand Damani.

FEATURE
'Asian firms more likely to pay bribes': Reuters
Companies from Asia were among the most likely to offer or pay bribes to foreign officials, a Bribe Payers' Index compiled by Berlin-based Transparency International says.

INTERVIEW
'Industry, academia must come together'
To churn out quality engineers, from technical and personality points, a finishing school is necessary in India, says S Mahalingam, executive vice president TCS.

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...