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GMDC rises on plan to sell bauxite calcination plant in Kutch

Gujarat Mineral Development Corporation Ltd. | Mining & Minerals | Metals & Mining | BSE: 532181 | NSE: GMDCLTD

14 Sep 2012 Evaluate

Gujarat Mineral Development Corporation (GMDC) is currently trading at Rs. 190.55, up by 0.75 points or 0.40% from its previous closing of Rs. 189.80 on the BSE.

The scrip opened at Rs. 191.00 and has touched a high and low of Rs. 194.90 and Rs. 189.45 respectively. So far 12521 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 212.60 on 29-Feb-2012 and a 52 week low of Rs. 151.25 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 194.90 and Rs. 185.25 respectively. The current market cap of the company is Rs. 6059.49 crore.

The promoters holding in the company stood at 74.00% while Institutions and Non-Institutions held 19.86% and 6.14% respectively.

State run Gujarat Mineral Development Corporation (GMDC) has floated tenders to sell its bauxite calcination plant in Kutch district. The plant is in working condition but not producing at optimum levels, making it financially unviable. The plant has a production capacity of 50,000 tonnes a year but current output is only 160 tonnes a day.

The company is planning to mine more bauxite from the Saurashtra districts such as Porbandar, Jamnagar and Junagarh where it is carrying out exploration. It will be mining about 10 lakh tonnes (lt) of bauxite annually in the State in the near future as the Union Government has approved its fresh mining plans of 7-8 lt in non-plant grade (lower grade) and 1.25 lt of plant grade bauxite.

GMDC is engaged in business of mining and mineral processing. The company manufactures two grades of fluorspar namely acid and metallurgical. It owns two bauxite reserve located at Kutch and Jamnagar.

GMDC Share Price

733.40 -13.60 (-1.82%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Coal India	438.70
NMDC	89.78
GMDC	733.40
Sandur Manganese	218.35
MOIL	327.60
View more..

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GMDC rises on plan to sell bauxite calcination plant in Kutch

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