Investigation of molecular dynamics with sufficient time and spectral resolution is very crucial for understanding the mechanistic aspects of any photophysical and photochemical process. In this seminar, I will briefly discuss about the femtosecond transient absorption technique and then introduce with the ultrafast Raman loss spectroscopic (URLS) technique that is analogous to femtosecond stimulated Raman scattering (FSRS) spectroscopy. These spectroscopic techniques (URLS/FSRS) offer excellent frequency and time resolution to decipher molecular dynamics at ultrafast timescales. The implementation of single shot detection scheme (which makes the detection more efficient and takes care of laser intensity fluctuations!!) to measure whitelight background, ground state Raman, transient absorption and transient Raman simultaneously in a shot-to-shot detection fashion will also be discussed. URLS has been utilised to understand the excited state planarization dynamics of 1,4-bis(phenylethynyl)benzene (BPEB) in different solvents. Using the same techniques we have investigated the ultrafast vibrational energy transfer and the role of coherent oscillations of low frequency vibrations on the solution phase photo-isomerization of trans-stilbene from an optically excited state. These studies reveal the potential of stimulated Raman techniques (fsrs/urls) in deciphering photo induced ultrafast structural changes with sufficient time and energy resolution.