Shares of India's automobile major, Tata Motors have slipped by 1.5% to quote at Rs 396 after the company posted a 4% decline in sales at 39,973 units for December as against 41,734 vehicles in December 2014.

In addition, domestic sales of Tata Motors' commercial and passenger vehicles dropped by 6% at 35,416 units during the month as compared to 37,776 units sold in the corresponding month for the year 2014.

Markets have gained strength in the morning trades well supported by the buying in index heavyweights such as Reliance Industries, Tata Motors, and Infosys.

At 10:30 AM, 30 share Sensex was at 25,967 levels, up by 130 points while the Nifty50 was at 7,899 levels, up by 38 points.

With uncertainty around diesel engines because of rising pollution in the cities, Tata Motors is moving towards hybrids and electric vehicles. The Mumbai-based company, traditionally been dependent on diesel engines, is working on partial hybrids and fully-electric systems for its future range of passenger vehicles. It is also working on a new generation of less-polluting petrol engines.

After a gap up opening, markets have erased their early gains on account of profit booking. The selling pressure on the index heavyweights such as Tata Motors, Axis Bank, ITC has dragged the markets lower.

At 11:30 am, the S&P BSE Sensex was down by 5 points at 25,488 and the Nifty50 gained 4 points at 7,754.

Shares of automobile companies have extended losses in Monday morning trades and are trading lower after the National Green Tribunal (NGT) on Friday has ordered immediate ban on registration of diesel-run cars in the national capital. The order further states that there won’t be any renewal of registration of vehicles that are older than 10 years in Delhi.

Among individual stocks, Tata Motors has skid over 3% to Rs 366, M&M has slipped nearly 2% to Rs 1,238, Ashok Leyland has dropped 0.7% to Rs 85, and Eicher Motors has lost 2.4% to Rs 15,187 on the Bombay Stock Exchange.

Software major Tata Consultancy Services (TCS) emerged as the biggest wealth creator in the past five years, while MMTC and Reliance Industries topped the list of companies where investors lost the most, says a study.

According to wealth creation study conducted by financial services company Motilal Oswal, TCS created wealth worth Rs 3,458 billion for the period 2010-15, followed by ITC (Rs 1,565 billion) and HDFC Bank (Rs 1,540 billion).

Tata Motors, India's fifth largest maker of passenger vehicles, has stopped producing the Manza sedan and the Vista hatchback.

With this, Tata Motors has exited its ageing portfolio of cars. The Indica and Indigo are available for commercial use only. The company phased out the older generation Nano late last year.

Tata group is banking on winning the Rs 60,000-crore project to design and build a Fighting Infantry Combat Vehicle (FICV) under Make in India in Defence to bring more than a dozen group companies together. Tata Motors is one of the ten contenders — L&T, Tata Power (SED), Tata Motors, Mahindra & Mahindra, Bharat Forge, Pipavav Defence, Rolta India, Punj Lloyd, Titagarh Wagons, and the Ordnance Factory Board (OFB) — for the FICV programme, who have been issued an expression of interest (EOI) by the defence ministry.

These firms have been asked to submit proposals by January 15, 2016 to build the FICV, a tracked, armoured battle-taxi, which will be operated by three crewmembers and carry eight combat soldiers into battle. As per the EoI, the FICV must be air-portable by IL-76 and C-17 aircraft, and fire anti-tank guided missiles up to 4,000 metres.

Markets continue to maintain weak trend tracking weak global cues along with selling pressure among rate-sensitive and FMCG sectors leading the fall.

Global markets across the global witnessed negative activity after the much awaited European Central Bank (ECB) stimulus failed to meet the street expectations.

Shares of automobile companies are in focus with the Bombay Stock Exchange (BSE) S&P BSE Auto index hitting a three-month high ahead of Ashok Leyland, Maruti Suzuki India and Tata Motors inclusion in the MSCI India index. The changes will be implemented as of the close of November 30, 2015.

Tata Motors, Maruti Suzuki India, Ashok Leyland and Bajaj Auto were up 2% each, while Mahindra & Mahindra up 1% on the BSE in late morning deals.

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