Morning Market Views:

Indian Markets will react on the US-IRAN developments in the initial trade where some media reports suggested of a possible deal between them. The rising bond yields is also weighing sentiments in the US markets due to which the futures are also trading on a flat note. The overall trend of the markets on domestic side is neutral with heavy swings expected today after the recent moves. The sentiment on the street will remain cautious with support for the index placed around 23300-23350 while 23850 remains resistance for the day. Banking stocks also came under selling pressure from the highs in the last trading session indicating that Bank Nifty may witness selling on any rise in the today’s session as well. The trend of the index seems to be cautious with support for the index placed around 52800 for the day while 53800 remains stiff resistance. Stocks In News $TATASTEEL l: The Supreme Court has stayed an Rs 891 crore GST demand that was previously raised against the company. $ADANIPORTS : The company completed the acquisition of Jaypee Fertilisers and announced that its arm has incorporated a new wholly-owned subsidiary, Astro Ship Management Angola. H.G. Infra Engineering: The company's board meeting, originally scheduled for May 22, has been officially postponed to a later date. Kirloskar Electric: The NCLT has formally approved the merger scheme allowing 4 of its subsidiaries to merge into the company. $EICHERMOT : The automaker plans to acquire a 50% stake in Volvo Financial Services via a Rs 750 crore investment, effectively forming a 50:50 Joint Venture. Indian Overseas Bank: Under its FY27 capital plan, the bank aims to raise equity capital of up to Rs 5,000 crore via an FPO and up to Rs 1,000 crore via Tier-2 bonds. Laurus Labs: The pharmaceutical firm has been officially included in the prestigious Dow Jones Best-in-Class Indices. CAMS: The mutual fund transfer agency has appointed Prasenjit Datta as its new Chief Technology Officer.