143% return in 1 Year: Stock of this industrial minerals PSU in focus today - Do you own?
GMDC Share Price NSE, BSE Today: According to the BSE analytics, the mining PSU has given multibagger returns to investors. The scrip has surged 143.67 per cent in one year.
GMDC Share Price NSE, BSE Today: Shares of state-owned Gujarat Mineral Development Corporation (GMDC) are in focus on Wednesday as the company has announced that it has entered into a collaboration with Gujarat Urja Vikas Nigam Ltd (GUVNL). The counter opened in green at Rs 404.85 as benchmark indices climbed in early trade on Wednesday, with the Sensex hitting its fresh all-time high level. The 30-share BSE Sensex climbed 134.64 points to hit a new all-time high of 78,188.16 in early trade. The Nifty went up by 28.2 points to 23,749.50.
GMDC Share Price NSE, BSE Today
The counter gained further to hit the high of Rs 409.10 or 2.4 per cent higher than the previous close of Rs 399.25. Last seen, the counter held firmly in green and was trading at Rs 407.60.
GMDC Share Price History
According to the BSE analytics, the mining PSU has given multibagger returns to investors. The scrip has surged 143.67 per cent in one year and 203 per cent in two years. However, it has given a negative return of 2.10 in the six months.
GMDC in News
Gujarat Mineral Development Corporation (GMDC) has entered into a collaboration with Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of coal-based and lignite-based power stations in Gujarat.
The partnership aims to strengthen energy security through sustainable coal and lignite utilisation, Gujarat Mineral Development Corporation (GMDC) said in a statement.
Gujarat has witnessed a steep rise in the power demand, which has been growing at a compound annual growth rate (CAGR) of more than 6 per cent in the last five years.
From 24,544 MW of peak demand in 2023-24, the demand is estimated to reach 36,000 MW by 2031-32, as per a report.
The current initiative is aligned to meet the residual surge in power demand for load balancing and meeting the late evening peak requirement.
Working in this direction, GMDC has been aggressively taking steps to develop the lignite mines in Gujarat.
Besides, the PSU is also in the process of operationalising its lignite mines in Gujarat that can support 1,250 MW of additional lignite-based capacity. This will ensure that consumers in the state will continue to get round-the-clock uninterrupted power supply in a more reliable and competitive manner.
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