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The stock ended 0.3% down at Rs 508.40 on the BSE. Year-to-date, the stock has fallen by more than 67%.

The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.

Nifty at the close settled 49 points higher at 18,609, while Sensex ended 160 points higher at 62,571. Nifty PSU Bank emerged as the outperformer, logging gains of around 4%.

The inside body candle on daily charts is indicating non-directional activity and indecisiveness between bulls and bears. For bulls, 18,675 would be the important breakout level to watch out for. And above the same, we can expect a quick uptrend rally up to 18,800-18,835. On the flip side, trading below 18,500 may fuel further weakness up to 18,435-18,400.

People believe that things are improving, and as the prices move up there is a FOMO in the form of analysis by various analysts who did nothing till now, but suddenly now they are upgrading the entire PSU banking space.

The property sector in India is seeing a multi-year pent-up demand and is more dependent on the pricing sentiment instead of mortgage rates. As a result, the 225-basis-point hike in repo rate by the Reserve Bank of India since May this year hasn’t affected the housing demand.

The benchmark 10-year yield ended at 7.2890% after ending at 7.2693% on Wednesday. It has risen by eight basis points in last five sessions through Thursday.

In its board meeting on Wednesday, the company announced a special interim dividend of Rs 100 per equity share i.e. 1000% of the face value of Rs 10 each fully paid up for the financial year 2023.

The Nifty Realty index was trading 0.07 per cent up at 458.2.

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