Anil,
You can turn them with the choices on the Draw-> Rotate or Flip
menu. (If you don't see the Draw toolbar -- it's normally at
the bottom of the screen -- click View-> Toolbars-> Drawing
*or* click the weird yellow-blue-turqouise icon on the Standard
toolbar.) You can reshape them by dragging the handles, and,
on some, reproportion them by dragging their special yellow
handle. But you can't twist and skew them in all the different
ways a graphics program allows. Word is, after all, designed
to do other things.