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Economic Times
23-07-2025
- Business
- Economic Times
GMDC shares rally 25% in 5 days on rare earth buzz; stock at 52-week high
Rare earth PSU stock Gujarat Mineral Development Corporation (GMDC) climbed as much as 3.2% on Wednesday to hit a 52-week high of Rs 472.4 on the BSE, extending its sharp five-session rally to nearly 25%. The surge in share price came amid heightened interest in rare earth companies, driven by trade developments out of China and domestic policy buzz. ADVERTISEMENT More than 63.5 lakh GMDC shares were traded on Wednesday, with turnover crossing Rs 295 crore. Overall, the stock has jumped 24.7% in the last five trading sessions, including Wednesday's intraday gains. The rally has pushed GMDC's year-to-date performance to 43.5%, with a 49% rise over the past six months and an 18% gain in just the last month. The renewed investor interest in rare earth producers comes amid speculation around a potential meeting chaired by Prime Minister Narendra Modi on rare earth magnets. On Wednesday, GMDC witnessed trading volumes of over 1.9 crore shares, nearly three times higher than its 10-day average, signalling strong institutional and retail to the backdrop, China's latest export data revealed a sharp increase in shipments of rare earth magnets in June. Total exports rose to 3,188 tons from just 1,238 tons in May, a period marked by tightened export curbs. The recovery in outbound shipments has helped ease some global supply concerns that had earlier threatened manufacturing operations across several geographies. Shares of fellow PSU player NLC India rose as much as 2.8% on Wednesday to Rs 248.05 on the BSE, supported by developments related to both its renewable energy business and rare earth ambitions. ADVERTISEMENT Chairman and Managing Director Prasanna Kumar Motupalli told PTI that NLC India aims to raise Rs 4,000 crore via an IPO of its renewable arm, NLC India Renewables Ltd (NIRL), with draft papers expected to be filed with Sebi in the first quarter of FY27. Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results? ADVERTISEMENT The company has also been stepping up its involvement in the critical minerals space. In May, NLC India signed a memorandum of understanding with Indian Rare Earths Limited (IREL) to collaborate in the development of critical activity in NLC India was also brisk, with over 29.69 lakh shares changing hands on Wednesday, translating to turnover worth Rs 72.54 crore. The stock is now up 6.7% in the past six months, though its gains for 2025 stand at a more modest 1%. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
23-07-2025
- Business
- Time of India
GMDC shares rally 25% in 5 days on rare earth buzz; stock at 52-week high
Rare earth PSU stock Gujarat Mineral Development Corporation ( GMDC ) climbed as much as 3.2% on Wednesday to hit a 52-week high of Rs 472.4 on the BSE, extending its sharp five-session rally to nearly 25%. The surge in share price came amid heightened interest in rare earth companies, driven by trade developments out of China and domestic policy buzz. More than 63.5 lakh GMDC shares were traded on Wednesday, with turnover crossing Rs 295 crore. Overall, the stock has jumped 24.7% in the last five trading sessions, including Wednesday's intraday gains. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Degree Artificial Intelligence Product Management others Cybersecurity Design Thinking Finance Data Science MCA Data Analytics Technology Data Science PGDM Project Management Public Policy healthcare Management Leadership Operations Management Others Healthcare CXO Digital Marketing Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The rally has pushed GMDC's year-to-date performance to 43.5%, with a 49% rise over the past six months and an 18% gain in just the last month. The renewed investor interest in rare earth producers comes amid speculation around a potential meeting chaired by Prime Minister Narendra Modi on rare earth magnets. On Wednesday, GMDC witnessed trading volumes of over 1.9 crore shares, nearly three times higher than its 10-day average, signalling strong institutional and retail activity. Adding to the backdrop, China's latest export data revealed a sharp increase in shipments of rare earth magnets in June. Total exports rose to 3,188 tons from just 1,238 tons in May, a period marked by tightened export curbs. The recovery in outbound shipments has helped ease some global supply concerns that had earlier threatened manufacturing operations across several geographies. Live Events NLC India also rallies Shares of fellow PSU player NLC India rose as much as 2.8% on Wednesday to Rs 248.05 on the BSE, supported by developments related to both its renewable energy business and rare earth ambitions. Chairman and Managing Director Prasanna Kumar Motupalli told PTI that NLC India aims to raise Rs 4,000 crore via an IPO of its renewable arm, NLC India Renewables Ltd (NIRL), with draft papers expected to be filed with Sebi in the first quarter of FY27. Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results? The company has also been stepping up its involvement in the critical minerals space. In May, NLC India signed a memorandum of understanding with Indian Rare Earths Limited (IREL) to collaborate in the development of critical minerals. Trading activity in NLC India was also brisk, with over 29.69 lakh shares changing hands on Wednesday, translating to turnover worth Rs 72.54 crore. The stock is now up 6.7% in the past six months, though its gains for 2025 stand at a more modest 1%.
Time of India
20-07-2025
- Business
- Time of India
NLC India arm NIRL to go public in Q2 of FY27; to raise Rs 4,000 cr to part fund expansion
New Delhi: NIRL , the renewable energy arm of state-owned NLC India , is expected to go public in the second quarter of the next financial year to raise around Rs 4,000 crore to part fund its expansion plans, a top official of the company said. In an interview to PTI, Chairman and Managing Director (CMD) of NLC India Ltd (NLCIL) Prasanna Kumar Motupalli said that the public sector enterprise is targeting to ramp up its renewable energy capacity from the current 1.4 GW to 10 GW by 2030 and the company plans to raise Rs 4,000 crore through initial public offering (IPO) route. Explore courses from Top Institutes in Select a Course Category PGDM Product Management Others healthcare Data Science MCA Healthcare Operations Management Leadership Artificial Intelligence Finance others CXO Data Science Public Policy Technology Degree Project Management Management MBA Digital Marketing Cybersecurity Design Thinking Data Analytics Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo The company plans to file draft papers with markets regulator SEBI in the first quarter of 2026-27. "We are targeting ₹4,000 crore through IPO by September we will be in a position to ramp up our renewable assets through NIRL and by March 2026 we will be able to complete the legal and the financial due diligence and in the first quarter of 2026-27 we will be going for DRHP through the SEBI," the CMD explained. NLC India Ltd, which will invest ₹50,000-₹60,000 crore to increase its renewable energy capacity by almost seven times, plans to do it through equity and debt. Live Events "The equity portion is funded through internal resources," he said. The cabinet committee on economic affairs (CCEA) on July 16 gave a special exemption to NLC India Ltd from investment guidelines that govern government-owned firms, which will enable NLCIL to invest ₹7,000 crore in NIRL. The company will also be able to invest in various projects directly or through joint ventures, without seeking approvals, which are a must for all Navratna Central Public Sector Enterprises. At present, NLCIL operates seven renewable energy assets with a total installed capacity of 2 GW, which are either operational or close to commercial operation. NLC India is a 6 GW company which includes 4.6 GW thermal capacity. NLC India -- the first company in the country to add 1 GW renewable capacity -- has plans to scale up its green energy capacity to 32 GW by 2047. NLC India , under the Ministry of Coal, is into businesses of mining and power generation.
Time of India
20-07-2025
- Business
- Time of India
NLC India arm NIRL to go public in Q2 of FY27; to raise ₹4,000 cr to part fund expansion: CMD
New Delhi: NIRL , the renewable energy arm of state-owned NLC India , is expected to go public in the second quarter of the next financial year to raise around Rs 4,000 crore to part fund its expansion plans, a top official of the company said. In an interview to PTI, Chairman and Managing Director (CMD) of NLC India Ltd (NLCIL) Prasanna Kumar Motupalli said that the public sector enterprise is targeting to ramp up its renewable energy capacity from the current 1.4 GW to 10 GW by 2030 and the company plans to raise Rs 4,000 crore through initial public offering (IPO) route. The company plans to file draft papers with markets regulator SEBI in the first quarter of 2026-27. "We are targeting ₹4,000 crore through IPO by September we will be in a position to ramp up our renewable assets through NIRL and by March 2026 we will be able to complete the legal and the financial due diligence and in the first quarter of 2026-27 we will be going for DRHP through the SEBI," the CMD explained. NLC India Ltd, which will invest ₹50,000-₹60,000 crore to increase its renewable energy capacity by almost seven times, plans to do it through equity and debt. "The equity portion is funded through internal resources," he said. The cabinet committee on economic affairs (CCEA) on July 16 gave a special exemption to NLC India Ltd from investment guidelines that govern government-owned firms, which will enable NLCIL to invest ₹7,000 crore in NIRL. The company will also be able to invest in various projects directly or through joint ventures, without seeking approvals, which are a must for all Navratna Central Public Sector Enterprises. At present, NLCIL operates seven renewable energy assets with a total installed capacity of 2 GW, which are either operational or close to commercial operation. NLC India is a 6 GW company which includes 4.6 GW thermal capacity. NLC India -- the first company in the country to add 1 GW renewable capacity -- has plans to scale up its green energy capacity to 32 GW by 2047. NLC India, under the Ministry of Coal, is into businesses of mining and power generation. PTI
News18
17-07-2025
- Business
- News18
Cabinet Clears NTPC's Rs 20,000-Crore Investment In Renewable Energy
Last Updated: The Cabinet also clears an investment of Rs 7,000 crore by NLC India in renewables. The Cabinet Committee on Economic Affairs, headed by Prime Minister Narendra Modi, on Wednesday approved an investment of Rs 20,000 crore by power producer NTPC in renewable energy. The Cabinet also cleared an investment of Rs 7,000 crore by NLC India in renewables. Shares of NTPC Green, the renewable energy arm of NTPC, jumped 1.72% to close at Rs 111.98 apiece on the NSE, while the shares of NLC India settled 3.81% higher at Rs 283.40 apiece. 'The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has granted enhanced delegation of power to NTPC Limited for making investment in NTPC Green Energy Limited (NGEL), and subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/ subsidiaries beyond earlier approved prescribed limit of Rs 7,500 crore up to an amount of Rs 20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032," said government in a statement. The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country. This move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation, according to the statement. 'The Cabinet Committee on Economic Affairs… has approved a special exemption for NLC India Ltd (NLCIL) from the prevailing investment guidelines applicable to Navratna Central Public Sector Enterprises (CPSEs). This strategic decision enables NLCIL to invest Rs 7,000 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL) and in turn NIRL investing in various projects directly or through formation of Joint Ventures, without the requirement of prior approval under the existing delegation of powers," an official statement said. According to the statement, the country is aiming to reach 500 GW of non-fossil energy capacity by 2030. As a Central Public Sector Enterprise and the leading Power Utility of the Country, NTPC, aims to add 60 GW of Renewable Energy Capacity by 2032 which will help the Country in achieving the aforesaid target and move towards larger aim of having 'Net Zero' emissions by 2070, said government. view comments First Published: July 16, 2025, 14:56 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
