Latest news with #GujaratMineralDevelopmentCorporation
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
What's behind 40% surge in GMDC stock price in past one month?
Shares of GMDC moved higher by 8 per cent to hit an over 10-month high of ₹414 on the BSE in Friday's intra-day trade amid heavy volumes. SI Reporter Mumbai Share price of Gujarat Mineral Development Corporation (GMDC) today Shares of Gujarat Mineral Development Corporation (GMDC) moved higher by 8 per cent to hit an over 10-month high of ₹414 on the BSE in Friday's intra-day trade amid heavy volumes. The stock price of this industrial minerals company now quotes at its highest level since July 25, 2024. It had hit a 52-week high of ₹439.90 on July 9, 2024. In the past one month, GMDC outran the market by surging 40 per cent, as compared to 2 per cent rise in the BSE Sensex. It has bounced back 83 per cent from its 52-week low of ₹226.20 touched on March 3, 2025. At 02:33 PM: GMDC was quoting 7 per cent higher at ₹408.10, as compared to 0.92 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped six-fold. A combined 14.53 million equity shares representing 4.6 per cent of total equity of GMDC changed hands on the NSE and BSE. What's driving the 40% surge in GMDC's stock price in the past one month? India's incentive scheme for recycling of critical minerals is in the final stages of getting approvals, as the country strives to meet its clean energy goals, according to a mines ministry government document, Reuters reported. The scheme, which will include lithium-ion batteries, will give a capex subsidy to eligible recyclers, according to the document shared with reporters at an event. India is planning to launch incentives for the recycling of 24 critical minerals this year, including lithium and cobalt, Reuters reported in April. According to media reports, GMDC has targeted to spend ₹13,000 crore in capital expenditure till 2030. An estimated 46 percent of this capex is expected to be spent on acquiring land for various projects including the coal mining projects in Odisha. Approximately ₹3,000- 4,000 crore (of the proposed capex) is for critical mineral projects - two of them. An additional ₹4,000 crore is for coal projects, ₹3,000 crore for lignite projects and the company would still need to spend in excess of ₹1,000 crore for existing lignite projects, as per reports quoting Roopwant Singh (IAS), Managing Director, GMDC. Meanwhile, Roopwant Singh, while announcing March 2025 quarter results on May 15, 2025 said that FY25 has been a year of steady performance and disciplined operations for GMDC. The company has remained focused on consistency and efficiency, while also moving ahead with key long-term projects. The progress made in Odisha, particularly in the Baitarani West block, reflects the company's future-ready approach and commitment to timely execution in line with national energy priorities. GMDC Outlook GMDC derives its strength from a distinguished track record of operations, a dominant position in the lignite mining sector, a diversified clientele spanning multiple industries, and favourable demand prospects. Looking ahead, GMDC has formulated strategic plans to significantly deepen its market presence by scaling up lignite production capacity by FY26. The company aims to elevate its lignite production to 15 million tonnes and is proactively seeking new mining leases to support this ambitious growth target. Additionally, GMDC is poised to leverage its substantial 1,700 million tonnes of limestone reserves, aspiring to become a long-term limestone supplier by commercialising these extensive resources, the company said in its FY24 annual report. About Gujarat Mineral Development Corporation GMDC is India's second-largest Lignite-producing company and top merchant seller of Lignite. It is a State Public Undertaking of the Government of Gujarat. The company is engaged in mining lignite from deposit-rich areas across the state, and markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power.
Business Standard
15-05-2025
- Business
- Business Standard
Gujarat Mineral Development Corporation consolidated net profit rises 20.82% in the March 2025 quarter
Sales rise 4.80% to Rs 786.28 crore Net profit of Gujarat Mineral Development Corporation rose 20.82% to Rs 226.22 crore in the quarter ended March 2025 as against Rs 187.24 crore during the previous quarter ended March 2024. Sales rose 4.80% to Rs 786.28 crore in the quarter ended March 2025 as against Rs 750.27 crore during the previous quarter ended March 2024. For the full year,net profit rose 14.80% to Rs 685.79 crore in the year ended March 2025 as against Rs 597.36 crore during the previous year ended March 2024. Sales rose 15.75% to Rs 2850.84 crore in the year ended March 2025 as against Rs 2462.88 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 786.28750.27 5 2850.842462.88 16 OPM % 24.6225.13 - 22.3624.74 - PBDT 311.71259.57 20 990.02877.91 13 PBT 285.08237.51 20 894.65798.13 12 NP 226.22187.24 21 685.79597.36 15
&w=3840&q=100)
Business Standard
15-05-2025
- Business
- Business Standard
GMDC Q4 results: Profit rises 21% to Rs 226 crore on higher income
State-owned Gujarat Mineral Development Corporation (GMDC) on Thursday reported a 20.8 per cent rise in consolidated profit at Rs 226.22 crore in the quarter ended March 31, 2025. The company had posted a consolidated profit of Rs 187.24 crore in the year-ago period, GMDC said in a regulatory filing to BSE. The consolidated income during the fourth quarter rose to Rs 904.33 crore against Rs 822.04 crore a year ago, the filing said. The total expenses during the quarter rose to Rs 619.44 crore as compared to Rs 585.02 crore during the same quarter of the preceding fiscal it said. GMDC is the country's second largest lignite-producing company. The company is involved in the exploration of bauxite, fluorspar, manganese, silica sand, limestone, bentonite and ball clay. It also has a presence in the energy and renewable energy sectors. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard
07-05-2025
- Business
- Business Standard
GMDC inks multi-year pact with City Gold Pipes to supply limestone
Gujarat Mineral Development Corporation (GMDC) announced that it has signed long term agreement (LSA) with City Gold Pipes for the supply of 150 million tones of limestone over a period of 40 years. City Gold Pipes is a consortium between Goldcrest Cement and Kailash Darshan Housing Development (Gujarat). The company will supply limestone from its upcoming Lakhpat Punrajpur Mine in Lakhpat Taluka of Kutch District in Gujarat. The agreement will support City Gold Pipes in setting up a greenfield integrated mega-capacity cement plant, fostering industrial growth in the region. The collaboration will stimulate investment, enhance industrial development, and generate thousands of direct and indirect employment opportunities in Kutch, contributing significantly to the socio-economic progress of Gujarat. This initiative will contribute substantially to the State Exchequer through revenue generation in the form of Royalty, National Mineral Exploration Trust (NMET) contributions, District Mineral Foundation (DMF) funds, and Goods & Services Tax (GST) on both limestone and cement production. Gujarat Mineral Development Corporation (GMDC) is India's second-largest Lignite-producing company and top merchant seller of Lignite. It has been engaged in the development of the ample mineral resources of the state. The companys consolidated net profit jumped 26.4% to Rs 147.66 crore on 15.8% increase in net sales to Rs 653.42 crore in Q3 FY25 over Q3 FY24. The counter slipped 4.24% to end at Rs 295.70 on the BSE.
