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Fitch cited fiscal deterioration over the next three years and a decline in governance standards as reasons for the downgrade.

Titan posted a 2% year-on-year drop in its profit at Rs 777 crore in the June quarter. Its quarterly revenue jumped 19% YoY to Rs 10,306 crore.

According to bulk deals data available with the exchanges, Madhuri Kela has bought 50.2 lakh shares or 5.3% stake in the company. The transaction was done at a weighted average price of Rs 61.65.

Early moves in U.S. financial markets on Wednesday indicated some aversion to riskier assets as investors assessed the impact of the surprise downgrade.

The company’s bookings during the quarter declined 11% to Rs 2,254 crore with 2.25 million sq ft sales. The developer added four projects with a total estimated saleable area of 3.7 million sq ft and potential booking value of Rs 6,450 crore between April and July.

The Delhi-headquartered drugmaker posted Rs 298 crore in the corresponding quarter of the previous year. Revenue rose 18% YoY to Rs 2579 crore in Q1FY24.

The profit was over 92% higher than Rs 3,222.62 crore net profit in the preceding quarter. Last year, HPCL and other government-owned fuel retailers -- Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL) -- froze retail petrol and diesel prices to cushion domestic consumers from rising international oil rates.

Private payrolls rose by 324,000 jobs last month, the ADP National Employment report showed, more than an increase of 189,000 that economists polled by Reuters had forecast.

Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter surged 43% YoY to Rs 660 crore, with margins expanding by a staggering 450 basis points to 25.6%.

Aeroflex filed its preliminary IPO papers with the regulator in March of this year. Prior to the IPO, prominent investors, including Ashish Kacholia and Jagdish Master, acquired stakes in the company