Gujarat Mineral Development Corporation rose 1.93% to Rs 190.60 at 10:20 IST on BSE after net profit rose 11.4% to Rs 170.52 crore on 5.9% growth in net sales to Rs 496.53 crore in Q1 June 2012 over Q1 June 2011.
Meanwhile, the BSE Sensex was down 36.63 points or 0.21% to 17,199.55.
On BSE, 5,770 shares were traded in the counter as against average daily volume of 40,444 shares in the past one quarter.
The stock hit a high of Rs 191.05 and a low of Rs 187 so far during the day.
The mid-cap stock had outperformed the market over the past one month till 31 July 2012, rising 0.56% compared with the Sensex's 1.11% fall. The scrip had also outperformed the market in past one quarter, gaining 0.59% as against Sensex's 0.48% fall.
Gujarat Mineral Development Corporation (GMDC) is primarily engaged in exploration and development of mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. It is also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.
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