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.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today