Tata Motors is trading higher by 4% at Rs 240, its highest level since May 2011, on hopes of strong performance from Jaguar as well as Land Rover in the emerging markets.

Jaguar Land Rover (JLF) bought by Tata from Ford Motor Company is recruiting enough people to contemplate three shifts at its Solihull, UK plant for the first time in 60 years, the report suggests.

“Even if the company sells about 28,000-30,000 units per month hereon for the rest of the three months of FY12, JLR can easily cross 2,90,000 units, which is way above previous conservative estimate of 2,70,000 units," LKP Research said in its recent report.

A combined 16.9 million shares have already changed hands on the counter so far against an average 19.3 million shares that were traded daily in past two weeks.