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Pratibha Industries stock falls 5.56% on Crisil downgrade

The stock closed 5.56 per cent lower at Rs 48.40 on the BSE. The rating agency also downgraded Pratibha Industries short-term rating to A4+ from A3+.

Shares in Pratibha Industries fell on Wednesday after rating agency Crisil downgraded its long-term rating on Pratibha to BB + negative from BBB negative.

The stock closed 5.56 per cent lower at Rs 48.40 on the BSE. The rating agency also downgraded Pratibha Industries short-term rating to A4+ from A3+.

The rating downgrade reflects the expectation of continuing pressure on the company's financial risk profile, according to Crisil.

(Reuters)