1 day ago
Tenneco Clean Air Shares Rise on Buy Coverage
Tenneco Clean Air makes vehicle parts related to emissions and suspension.
Its shares rose 5% after Motilal Oswal recommended buying them.
The brokerage believes the company is strong in several vehicle-parts markets.
It expects demand to grow as vehicles use more advanced technologies and face stricter emissions rules.
Exports and new customer programmes could also help the company.
Motilal Oswal expects the suspension business to grow quickly through FY29.
It also expects the company’s earnings to increase by about 19% each year.
The brokerage believes the shares could reach Rs 673, compared with a reference price of Rs 506.
Tenneco Clean Air shares rose 5% after Motilal Oswal initiated coverage with a Buy rating.
Motilal Oswal set a target price of Rs 673 versus a reference price of Rs 506, implying about 33% upside.
The company holds leading market shares in commercial vehicle Clean Air, off-highway Clean Air, passenger vehicle Clean Air, and passenger vehicle shock absorbers and struts.
Growth could be driven by premiumisation, stricter emission norms, technology localisation, new customer programmes, and exports.
The brokerage forecasts 19% annual consolidated earnings growth through FY29 and profit after tax of Rs 1,026 crore by FY29.
- Who
- Tenneco Clean Air and Motilal Oswal.
- What
- Motilal Oswal initiated coverage of Tenneco Clean Air with a Buy rating and a Rs 673 target price; the shares rose 5%.
- Where
- The business and growth opportunities discussed are primarily in India.
- When
- The forecasts cover FY26 through FY29, with the order book reported as of March 2026.
- Why
- Motilal Oswal cited Tenneco Clean Air’s market positions, technology access, order book, cash generation, premiumisation, stricter emission norms, and export opportunities.
Key facts
- Brokerage rating
- Buy, initiated by Motilal Oswal
- Target price
- Rs 673
- Reference price
- Rs 506
- Implied upside
- Approximately 33%
- Order book
- Rs 12,400 crore as of March 2026
- Projected earnings growth
- 19% compounded annually between FY26 and FY29
- Projected FY29 profit after tax
- Rs 1,026 crore, compared with Rs 630 crore in FY26
Sources
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