Tata Motors scrip gains despite poor earnings

Mumbai: Tata Motors shares edged higher on the BSE on Friday despite reporting double the losses in the June quarter than what it incurred in the same quarter last year.

The country's largest commercial vehicle (CV) maker Tata Motors shares closed nearly 2 per cent higher at Rs 147.20 apiece.

However, it did succumb to heavy selling pressure on Thursday, ahead of its result announcement. The company on Thursday also clarified that the Fitch rating downgrade said that it has no formal engagement with Fitch.

"This is an unsolicited rating and hence we have no comments to offer," the company said in a regulatory filing. It has further informed of Analyst/Institutional investors meeting with Citi Bank on August 1.