  We present red spectra in the region 7000-8300A of the eclipsing dwarf nova
IP Peg, with simultaneous narrow-band photometry centered at 7322A. We show
that by placing a second star on the slit we can correct for the telluric
absorption bands which have hitherto made the TiO features from the secondary
star unusable. We use these TiO features to carry out a radial velocity study
of the secondary star, and find this gives an improvement in signal-to-noise of
a factor two compared with using the Na{I} doublet. In contrast with previous
results, we find no apparent ellipticity in the radial velocity curve. As a
result we revise the semi-amplitude to 331.3+/-5.8km/s, and thus the primary
and secondary star masses to 1.05Mo and 0.33Mo respectively. Although this is
the lowest mass yet derived for the secondary star, it is still over-massive
for its observed spectral type. However, the revised mass and radius bring IP
Peg into line with other CVs in the mass-radius-period relationships.
  By fitting the phase resolved spectra around the TiO bands to a mean
spectrum, we attempt to isolate the lightcurve of the secondary star. The
resulting light curve has marked deviations from the expected ellipsoidal
shape. The largest difference is at phase 0.5, and can be explained as an
eclipse of the secondary star by the disc, indicating that the disc is
optically thick when viewed at high inclination angles.
