HSBC initiates Tenneco Clean Air India with "buy"; cites strong earnings outlook

Tenneco Clean Air India

02/04/2026 05:38

** HSBC initiates Tenneco Clean Air India TENN.NS with "buy" rating and PT of 700 rupees

** Says access to its parent company Tenneco Group's technology, patents, global networks gives it a competitive edge

** TENN's shift from being primarily a domestic supplier to a global sourcing hub for its parent is set to drive export growth - HSBC

** Firm has two divisions, clean air and powertrain solutions (CAPS) focused on exhaust system products, and advanced ride technologies (ART), a specialist in advanced suspension systems

** HSBC expects margins to remain range bound around 18%-19% range

** Sees ART margins to improve with premiumisation which should offset any pressure in CAPS business

** Stock trading 0.03% lower at 530 rupees

** YTD, TENN up 4.6%

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))