The Associated Press

U.S.-traded shares of India's Tata Motors Inc. jumped on Tuesday on an analyst upgrade.

On the New York Stock Exchange, Tata Motors rose $1.46, or 10.2 percent, to $15.78 in afternoon trading. In Mumbai, where Tata is based, shares rose 5 percent to close at 660.9 rupees ($14.17).

Morgan Stanley analyst Binay Singh upgraded Tata to "overweight" from "equal-weight" on Monday on a belief Tata's newly acquired Jaguar Land Rover business "will start steering towards breakeven."

Singh wrote that the company's second-quarter results released on Friday showed an operating profit for Jaguar Land Rover, and Singh believes it will show a net profit in fiscal 2011.

Singh also wrote that the Indian commercial vehicle market should continue to be profitable, but that this expectation is already reflected in Tata's share price.

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