TENNIND

** Shares of Tenneco Clean Air India TENN.NS rise 2.6% to 534 rupees

** JM Financial initiate coverage with "Buy" and a PT of 610 rupees

** TENN makes clean air, powertrain, and suspension solutions for Indian automobile makers

** Says co has outperformed domestic peers due to strategic raw material sourcing and a growing share of high-value, high-margin products

** Notes, Tenneco Global's positioning for the unit as an export hub will leverage cost advantages and estimates it to make ~20% of value added revenue by FY30 from current 6%

** Premiumisation in India's PV market will drive growth for TENN as larger SUVs and advanced suspension systems will offer up to 4x higher value than conventional setups - JM Financial

** TENN up ~9% since Nov 2025 listing

(Reporting by Urvi Dugar in Bengaluru)

(([email protected];))

** Shares of Tenneco Clean Air India TENN.NS jump 28.6% to 510.55 rupees in trading debut, valuing co at 206.06 bln rupees ($2.33 bln) as of 10:11 IST

** Stock opened at 505 rupees on the National Stock Exchange of India, 27.2% higher than IPO price of 397 rupees

** The Tenneco Group company's 36-bln-rupee IPO, comprising entirely sale of shares by promoter Tenneco Mauritius Holdings, was subscribed 58.8x

** TENN makes clean air, powertrain, and suspension solutions for Indian automobile makers and export markets

** Overall trading vols at 34 mln shares so far

($1 = 88.4860 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))