The company has been in focus of late with the Centre planning a concerted push towards rare earth mining to secure supplies, as well as the company's stated plans to foray into new mining ventures.
GMDC has stated intentions of entering the critical mineral space, including rare earth, and the company has been working towards this, through it has not officially disclosed details of its plans yet.
GMDC is a mining and mineral processing company engaged in lignite exploration and supply in Gujarat. It operates through two segments - Mining and Power.
Shares of Nalco, Hindustan Copper, SAIL, Hindalco, JSW Steel, Tata Steel, Welspun Corporation jumped up to 5 percent.
The Gujarat government has announced a new policy for minimum levels of dividend distribution and bonus shares for its state public sector companies, including listed entities
Edelweiss expects GMDC to surpass the Rs 5,000 crore (3 percent CAGR) EBITDA barrier by FY21.
State-run manganese ore producer MOIL on Friday announced that it has entered into a pact with GMDC to set up a plant in joint venture in Gujarat with an investment of around Rs 250 crore and to conduct joint exploration of manganese-bearing areas.
Listed below is six such state-run entities, which are strong businesses and command pole position in the industry
The approach of having a decent mix of debt and equity in one’s portfolio is an important thing to balance the repercussions arising out of unstable times.
At 6 times FY19 estimated earnings, GMDC remains one of our attractive picks in the mining space
HDFC Securities is bullish on GMDC has recommended buy rating on the stock with a target price of Rs 210 in its research report dated May 13, 2018.
Moreover, higher volumes are coming at a time when the lignite prices are higher as a result of firm international coal prices.
While some of our recommended companies have surpassed our expectations, for a few others, the quarter turned out to be a dull one.
Sudip Bandhopadhyay, Market Expert recommends buying NMDC, Hindustan Zinc and GMDC.
Ashwani Gujral of ashwanigujral.com recommends buying Jet Airways, United Spirits, L&T Finance Holdings, GMDC and Tata Steel.
Ashwani Gujral of ashwanigujral.com is of the view that one may buy Hindustan Unilever, Maruti Suzuki, Chambal Fertiliser and PTC India and can sell GMDC.
Ashwani Gujral of ashwanigujral.com recommends buying ITC, GMDC and TVS Motor Company.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Ashok Leyland, GMDC and JBF Industries and can sell Ambuja Cements and Engineers India.
The company had posted a PAT of Rs 39.56 crore in the year-ago quarter, GMDC said in a regulatory filing.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Kotak Mahindra Bank and GMDC and sell Sun TV.
Mitessh Thakkar of mitesshthakkar.com advises buying Marico and GMDC.
HDFC Securities is bullish on GMDC has recommended buy rating on the stock with a target price of Rs 160 in its research report dated May 15, 2017.
Gujarat Mineral Development Corporation (GMDC) could be one of those boring commodity stocks that have given no returns since the last burst of commodity cycle in 2008. But growth in volumes and realisations provides a good earning visibility, which will be further enhanced because of the implementation of GST.
Total income rose 49.5 percent at Rs 543.9 crore against Rs 363.9 crore.
In an interview to CNBC-TV18, L Kulshrestha, CFO of Gujarat Mineral Development Corporation (GMDC) spoke about the results and his outlook for the company.