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Shares of Tenneco Clean Air India on Wednesday ended with a premium of nearly 24 per cent against the issue price of Rs 397. The stock started trading at Rs 498, registering a jump of 25.44 per cent from the issue price on the BSE. During the day, it surged 30.22 per cent to Rs 517. Shares of the firm finally ended at Rs 491.20, up 23.72 per cent. At the NSE, the stock listed at Rs 505, a premium of 27.20 per cent. It ended at Rs 490.80, a jump of 23.62 per cent. The company's market valuation stood at Rs 19,825.04 crore. The initial public offer of Tenneco Clean Air India Ltd, part of the US-based Tenneco Group, was subscribed nearly 59 times on the final day of share sale on Friday last week, led by heavy demand from institutional buyers. The company's Rs 3,600-crore IPO was entirely an offer-for-sale by promoter Tenneco Mauritius Holdings Ltd, with no fresh equity issuance. The company had fixed a price band of Rs 378-397 per share for the IPO. Tenneco Mauritius Holdings Ltd,
Truck rental charges on major routes stayed largely stable in July, reflecting a balanced demand-supply environment across the country, a report said on Friday. Freight rates remained unchanged between June and July for most key routes such as Delhi-Mumbai-Delhi, Delhi-Kolkata-Delhi, and Mumbai-Chennai-Mumbai. The Bengaluru-Mumbai-Bengaluru corridor recorded a slight uptick of 2.3 per cent month-on-month (MoM), indicating region-specific cargo movement. However, freight charges on routes like Kolkata-Guwahati-Kolkata saw an increase of 10 per cent, the same went up 8 per cent for Delhi-Hyderabad-Delhi route and 9 per cent for Mumbai-Chennai-Mumbai, continuing to exhibit robust long-haul freight demand, according to a report by Shriram Finance. The report indicated a steady momentum in the country's mobility sector in the previous month, with stability and selective upticks across key transport segments driven by preparations for the upcoming festive season. This movement, as per th