
Gujarat Mineral Development Corporation (GMDC) shares soared more than 18% on Thursday, April 16, reaching the stock's 52-week high level of ₹736 per unit on the National Stock Exchange (NSE). According to reports from The Economic Times, the stock was trading 18% higher at ₹736 at 12:25 pm, driven by robust trading volumes exceeding ₹2,400 crore turnover. The strong performance reflects significant investor interest in the mining and mineral processing company, with around 3.47 crore shares changing hands during the session.
The stock has demonstrated exceptional momentum across multiple timeframes, with 20.29% gains in the past week and 36.63% advancement in a month, as reported by The Economic Times. Year-to-date performance shows 21.27% growth, while the stock recorded its year's low of ₹280.15 per unit on April 15, 2025. This dramatic recovery from the year's low to current 52-week high levels indicates strong investor confidence in the company's prospects. The stock has also delivered impressive long-term returns, surging 130% over the past year and rallying as much as 1,200% over a five-year period.
Despite the strong stock performance, GMDC reported mixed financial results for Q3 FY26. According to The Economic Times, the company net profit declined 10% to ₹133 crore compared to ₹147.7 crore in the same period last year. Revenue fell 11.3% to ₹579 crore from ₹653 crore in Q3 FY25. However, EBITDA rose 9.5% to ₹101.2 crore compared with ₹92.4 crore a year ago, with margins improving significantly to 17.5% from 14.1% in the corresponding quarter. The company maintains its position as India's largest merchant seller of lignite and the second-largest producer of lignite.
According to an exchange filing reported by The Economic Times, GMDC inked a Memorandum of Understanding (MoU) with NMDC last month to explore opportunities for collaboration in the Rare Earth Elements (REE) sector. The collaboration will focus on assessing the potential development of an integrated rare earth value chain in Gujarat, including exploration, mining, beneficiation, processing and downstream applications. The engagement will primarily explore opportunities associated with GMDC's Ambadungar Rare Earth deposit, a strategic initiative aimed at strengthening India's capabilities in the rare earths sector.
The positive momentum extended across the metal sector on April 16, with The Economic Times reporting that Vedanta stock hit its 52-week high level of ₹787.85 per unit, up 2.84% intraday on NSE. Hindalco Industries was trading 3.33% higher at ₹1,045.15, while Hindustan Zinc zoomed 2.78% to ₹596.65. This broad-based rally in metal stocks suggests positive sentiment toward the sector's prospects and GMDC's strong performance contributed significantly to the sector's overall gains.