GMDC gains on getting nod for Rs 3,041 crore capital outlay for FY25
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Gujarat Mineral Development Corporation is currently trading at Rs. 417.35, up by 2.10 points or 0.51% from its previous closing of Rs. 415.25 on the BSE.
The scrip opened at Rs. 418.00 and has touched a high and low of Rs. 419.50 and Rs. 411.35 respectively. So far 53160 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 505.00 on 05-Feb-2024 and a 52 week low of Rs. 122.75 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 420.00 and Rs. 391.70 respectively. The current market cap of the company is Rs. 13257.42 crore.
The promoters holding in the company stood at 74.00%, while Institutions and Non-Institutions held 2.65% and 23.34% respectively.
Gujarat Mineral Development Corporation (GMDC) has received the Board's approval for Rs 3,041 crore capital outlay for the fiscal year 2025, reinforcing the company’s commitment to substantial growth and sustainable development in the mineral sector. With a keen focus on advancing its strategic priorities, this budget allocation will propel GMDC into a new era of innovation and industry leadership.
With a strategic allocation of Rs 1,138 crore towards new lignite projects, GMDC reinforces its commitment to the cornerstone of its mining operations. This investment will catalyze the enhancement of its existing lignite projects while also facilitating the development of new ventures, thereby ensuring its continued leadership in the sector.
GMDC dedicates Rs 629 crore to expedite the operationalization of the allotted coal blocks in Odisha. This initiative is pivotal in its strategy to harness the potential of early mine development, thereby contributing to the region's industrial prosperity and the nation's energy security.
