GMDC jumps on getting nod to mine upto depth of 135 meters at Tadkeshwar lignite mines
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Gujarat Mineral Development Corporation is currently trading at Rs. 137.00, up by 1.70 points or 1.26% from its previous closing of Rs. 135.30 on the BSE.
The scrip opened at Rs. 135.65 and has touched a high and low of Rs. 138.60 and Rs. 132.25 respectively. So far 147412 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 151.95 on 16-Feb-2022 and a 52 week low of Rs. 52.00 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 151.95 and Rs. 121.95 respectively. The current market cap of the company is Rs. 4313.67 crore.
The promoters holding in the company stood at 74.00%, while Institutions and Non-Institutions held 4.25% and 21.75% respectively.
Gujarat Mineral Development Corporation (GMDC) has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 meters from its earlier approved depth of 94 meters at the Tadkeshwar, Lignite Mines. The Lignite Mines in Tadkeshwar is strategically located in Surat, a large industrial belt.
For FY21-22, the company had a production target of 86.63 lakh MT and have achieved 65.64 lakh MT till January 23, 2022. During the year 2021-22, lignite production at Bhavnagar mines achieved was 12.86 lakh MT, an increase of 7.92 lakh MT, as against 4.94 Lakh MT in 2020-21.
Gujarat Mineral Development Corporation (GMDC) is engaged in business of mining and mineral processing.
