Gmdc

Stocks to buy and sell on July 11: India Cements, GMDC, Marico

Markets fluctuated sharply within a range and ended up losing nearly half a percent, wiping out the gains from Tuesday's session

GMDC approves capex of Rs 3,041 cr for FY25, targets Rs 800 cr this fiscal

State-owned Gujarat Mineral Development Corporation Ltd (GMDC) on Thursday said its board has approved a capital expenditure of Rs 3,041 crore for the next fiscal. The PSU had set a capex target of Rs 800 crore for the ongoing financial year. "GMDC is proud to announce the Board's approval of a Rs 3,041 crore capital outlay for the fiscal year 2025, reinforcing our commitment to substantial growth and sustainable development in the mineral sector," it said in a regulatory filing. With a strategic allocation of Rs 1,138 crore towards new lignite projects, this investment will catalyse the enhancement of its existing lignite projects while also promoting the development of new ventures. "GMDC dedicates Rs 629 crore to expedite the operationalisation of the allotted coal blocks in Odisha," it said. Recognising the role of critical minerals in the global economy, the company has set aside Rs 462 crore for the expansion and modernisation of its metal projects. "This initiative is ...

Stock of this industrial minerals PSU has zoomed nearly 300% since Apr 2023

GMDC on Monday said that it has received a green nod to expand the capacity of its Surkha lignite mine in Gujarat

GMDC gets green approval for expanding Surkha lignite mine in Gujarat

State-owned GMDC on Monday said that it has received a green nod to expand the capacity of its Surkha lignite mine in Gujarat. The environment clearance was accorded by the Ministry of Environment, Forest, and Climate Change (MOEFCC) for expanding the capacity of Surkha (N) lignite mine from 3 million tonnes per annum (MTPA) to 5 MTPA. This expansion not only signifies increased production but also aligns with Gujarat Mineral Development Corporation's (GMDC) commitment to sustainability and responsible resource utilisation, the company said in a statement. "The approval of environmental clearance for the capacity expansion of Surkha (N) lignite mine is a pivotal moment for GMDC. This project's success is integral to our overall growth and revenue generation perspective," the company's Managing Director Roopwant Singh said. The enhanced lignite production capacity is likely to drive substantial revenue growth for GMDC, the statement added. "The expansion of lignite production ...

GMDC soars 15% on heavy volumes; stock more-than-doubled in 2 months

CARE Ratings believes that GMDC will continue to maintain its dominant market position in the lignite mining business with a healthy operating performance backed by sales volume growth.

Stock of this Gujarat government-owned company has zoomed 91% in 7 weeks

Shares of GMDC hit a record high of Rs 323.70 as they rallied 14%, surpassing its previous high of Rs 316.18 touched on November 12, 2007

Buy GMDC, Rites for gains up to 16%, recommends HDFC Securities

On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could trade in the range of 19,612 - 19,819 in the near term.

New dividend, bonus share policy to create value for Gujarat PSUs: Analysts

Analysts believe the move will create shareholder value

GMDC's Q2 net profit surges nearly four-fold to Rs 151 crore

State-owned GMDC on Tuesday reported nearly four-fold rise in its consolidated profit at Rs 151.2 crore for the quarter ended September 30, 2022. The company had posted a consolidated profit of Rs 40.4 crore in the year-ago period, Gujarat Mineral Development Corporation (GMDC) said in a filing to BSE. The consolidated income of the public sector enterprise increased to Rs 591.4 crore in the July-September period from Rs 494.7 crore in the year-ago quarter, the filing said. GMDC is country's second largest lignite producer.

GMDC to study economic viability of rare earth elements processing unit

State-run GMDC on Thursday said it is contemplating to conduct a study to determine the economic viability of setting up a rare earth elements processing unit in Gujarat. Rare-earth elements (REE) also known as rare-earth metals are crucial to developing green energy technologies like permanent magnets for electric vehicles and wind turbines and LEDs. Gujarat Mineral Development Corporation (GMDC) "is looking at conducting a scoping study to determine the economic viability of the project and outline at least one opportunity to develop the processing plant for the deposit at Ambadongar, Chotaudepur district in Gujarat state in India," the PSU said in a statement. The company also plans to carry out a pre-economic assessment for the Ambadongar deposit involving, among other things, formulating a process flow design and all relevant testing for beneficiation and rare earth elements oxide production. "We at GMDC will ensure the establishment of a complete value chain for REE elements,

GMDC to increase lignite production by additional 1.5 MT this year

State-owned Gujarat Mineral Development Corporation (GMDC) on Thursday said it is augmenting lignite output by further 1.5 million tonnes this year. The development assumes significance as the PSU is targetting to build up its lignite production in a bid to support Micro, Small and Medium Enterprises (MSMEs) eyeing for cheaper fuel. GMDC Managing Director Roopwant Singh said that its customer base among MSMEs in textiles, chemicals, and ceramics along with captive power plants is increasing. Hence, the company is increasing its lignite production this year. "This will help us minimising the constantly increasing demand-supply gap and catering the energy requirements in the state," he said. The PSU has invited bids for its Surkha (N) mine in Bhavnagar from lignite mining contractors. The company produced 8.5 million tonnes of lignite last year and plans to increase it to 10 million tonnes this year. "The RFP for lignite Mining at Surkha (N), Bhavnagar, includes two packages with a

GMDC, NMDC are the top picks of technical analyst Mehul Kothari

According to the analyst from Anand Rathi, GMDC can rally to Rs 168 on the upside, while NMDC can jump to Rs 114.

State-owned GMDC to expand lignite production as demand increases

Company says 10 million tonnes production this year, sees gaining business from small businesses

Back in black, GMDC plans lignite expansion, entry into rare earths

The mining company has roped in the Boston Consulting Group (BCG) for its strategic transformation, apart from McKinsey & Co. for the development of REE assets

RIL, Bajaj Finance power 777-pt rally in Sensex; Nifty holds 17,200

CLOSING BELL: Sectorally, all the indices ended in the green zone, led by the Nifty Realty and Auto indices, up 3.5 per cent and 3 per cent, respectively

Stock of this state-owned mining company has zoomed 120% in two months

At 12:26 pm; GMDC was trading 15 per cent higher at Rs 158, as compared to a 0.13 per cent decline in the S&P BSE Sensex.

Sensex falls 149 pts; SmallCap index sheds 2% amid tepid global cues

Closing Bell: Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent

Sensex slips 581 pts amid hawkish US Fed, F&O expiry; Nifty holds 17,100

Sectorally, the Nifty PSU Bank index jumped a massive 5 per cent on the NSE, while the Nifty Bank and Private Bank indices added about a per cent each

Stock of this smallcap state-owned mining firm has zoomed 44% in one week

In the past one week, the stock has zoomed 44 per cent, on expectation of improvement of company's performance, primarily due to the price hikes taken in the lignite division.

GMDC surges 16% as Q4 profit more than doubles

The company posted net profit at Rs 90 crore in Q4 against Rs 40 crore in a year ago quarter