Pratibha Inds down on 'downgrade'

Pratibha Industries is down in the red, down almost 5.5% at Rs.48.50, with an intra day low at Rs.46.25. Volumes are up almost 3 times.

The stock has slipped into the red after rating agency, Crisil downgraded the long term rating of the company from BBB negative to BB- and its short term rating was also downgraded from A3+ to A4+. The rating agency has said that the downgrade reflected the expectation of continuing pressure on the company's financial risk profile.