Markets reel under oil fears -- Dow, Nasdaq knock stocks
THERE was bloodbath on Dalal Street today as stocks tumbled into a seemingly bottomless pit. Domestic bourses followed most of the markets in the Asian region which fell today following sizable losses in distant American markets on Friday.

Rupee hits new low at 46.05
THE rupee plummeted by 25 paise to close at an all-time low of 46.03/05 to the dollar today. Some dealers hit the screens with quotes of 46.08 late in the evening though no deals were done. At 46.03/.05 the Indian currency has touched a fresh bottom sinc e touching an intra-day low of 46.08 to the dollar on August 11.

HFCL to divest entire stake in Fascel
HIMACHAL Futuristic Communications Ltd has decided to disinvest the entire 10 per cent shareholding in Fascel Ltd, the Hinduja-group promoted cellular service provider in Gujarat circle.

CPCL's Q1 net plunges 95 pc
CHENNAI Petroleum Corporation Ltd's net profit for the first quarter of the current financial year is down by 94.54 per cent to Rs 1.95 crores, as against Rs 35.77 crores in the first quarter of last year, the company's Chairman and Managing Director, Mr S. Rammohan, said at the company's annual general meeting today.

Sensex in negative territory
AS the global equity markets turned nervous over the high oil prices and the Nasdaq Composite Index nosedived by around 3.60 per cent over the week (and by 2 per cent on Friday alone), the global contagion caught the BSE Sensex as well. For t he fourth day in succession, the BSE Sensex ended in the negative territory, recording the biggest losses on Monday's trading as it dipped by 195 points to close for the day at 4,366.41 points.

IDBI raises lending rate
IDBI has raised its minimum term lending rate (MTLR) by 0.50 percentage point to 13 per cent, effective September 18. However, the minimum short-term lending rates (MSTLR) have been kept unchanged at 12.5 per cent.

SSI to acquire US firm in $64-m stock, cash deal
THE Chennai-based SSI Ltd has announced that it will acquire AlbionOrion Company (AOC) llc, US, an IT solutions provider, for $63.65 million in a stock and cash deal.

Rowe Price stake in Global Tele goes up to 8.7 pc
THE shareholding of T. Rowe Price Associates Inc in Global Telesystems has gone up to approximately 8.79 per cent of the paid-up equity share capital.

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