March 14, 2012 / 6:22 AM / 6 years ago

REFILE-MARKET EYE-Tata Motors up on sales hopes

(Refiles to fix headline)

MUMBAI, March 14 (Reuters) - Shares in Tata Motors rose 1.7 percent after unit Jaguar Land Rover said it will operate for 24 hours and create 1,000 new jobs at one of its U.K. car factories, which traders saw as signaling strong optimism about sales.

Production for the Land Rover Freelander and Range Rover Evoque will be increased to three shifts , the company said in a statement.

“Companies rarely go for 3 shifts due to extra costs, so this news implies a very strong demand for the Evoque,” said an analyst tracking the company. (Reporting by Abhishek Vishnoi)

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