GMDC rises on signing Long-Term Supply agreement with City Gold Pipes
Gujarat Mineral Development Corporation is currently trading at Rs. 298.20, up by 2.50 points or 0.85% from its previous closing of Rs. 295.70 on the BSE.
The scrip opened at Rs. 291.05 and has touched a high and low of Rs. 299.65 and Rs. 291.05 respectively. So far 16278 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 442.30 on 18-May-2024 and a 52 week low of Rs. 226.20 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 314.55 and Rs. 291.05 respectively. The current market cap of the company is Rs. 9414.39 crore.
The promoters holding in the company stood at 74.00%, while Institutions and Non-Institutions held 2.91% and 23.09% respectively.
Gujarat Mineral Development Corporation (GMDC) has signed a Long-Term Supply agreement (LSA) with City Gold Pipes (A consortium of Goldcrest Cement and Kailash Darshan Housing Development (Gujarat)) for the supply of 150 million tons of limestone over a period of 40 years from its upcoming Lakhpat Punrajpur Mine in Lakhpat Taluka of Kutch District in Gujarat.
This agreement marks a strategic partnership towards monetizing the large limestone asset of GMDC and benefiting both the partners. It will support City Gold Pipes in setting up a greenfield integrated mega-capacity cement plant, fostering industrial growth in the region. The collaboration will stimulate investment, enhance industrial development, and generate thousands of direct and indirect employment opportunities in Kutch, contributing significantly to the socio-economic progress of Gujarat. Kutch’s coastal proximity, improved access to domestic and international markets, and cost-efficient logistics position it as an ideal hub for cement production. Furthermore, this initiative will contribute substantially to the State Exchequer through revenue generation in the form of Royalty, National Mineral Exploration Trust (NMET) contributions, District Mineral Foundation (DMF) funds, and Goods & ServicesTax (GST) on both limestone and cement production.
This agreement underscores GMDC’s commitment to fostering industrial growth while ensuring the sustainable utilization of mineral resources, thereby strengthening Gujarat’s position as a leading industrial and economic State.
Gujarat Mineral Development Corporation is engaged in business of mining and mineral processing.
