GMDC zooms on getting Environmental Clearance for capacity expansion of Surkha(N) Lignite Mine

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

09 Jan 2024 Evaluate

Gujarat Mineral Development Corporation is currently trading at Rs. 481.30, up by 29.15 points or 6.45% from its previous closing of Rs. 452.15 on the BSE.

The scrip opened at Rs. 463.10 and has touched a high and low of Rs. 502.15 and Rs. 463.10 respectively. So far 1266342 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 502.15 on 09-Jan-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. 502.15 and Rs. 430.55 respectively. The current market cap of the company is Rs. 15305.34 crore.

The promoters holding in the company stood at 74.00%, while Institutions and Non-Institutions held 2.90% and 23.10% respectively.

Gujarat Mineral Development Corporation (GMDC) has received the Environmental Clearance for the capacity expansion from 3 MTPA to 5 MTPA of Lignite for Surkha(N) Lignite Mine, by the Ministry of Environment, Forest, and Climate Change (MOEFCC). The Surkha(N) Lignite Mine holds strategic importance for GMDC, representing a significant leap forward in the company's growth trajectory. This expansion not only signifies increased production but also aligns with GMDC's commitment to sustainability and responsible resource utilization.

Taking a leap, with the engagement of two Turnkey Mining contracts at Surkha(N) Lignite Mine, GMDC sets to scaleup its production targets. The enhanced lignite production capacity is expected to drive substantial revenue growth for GMDC. As Gujarat's foremost mining entity, GMDC plays a crucial role in the state's economic landscape. The expansion of lignite production annually is poised to fuel the energy needs of industries across Saurashtra and Gujarat, fostering robust growth and development across various sectors within the state.

Gujarat Mineral Development Corporation is engaged in business of mining and mineral processing.

GMDC Share Price

662.90 -21.80 (-3.18%)

11-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Coal India	464.35
NMDC	86.79
GMDC	662.90
Sandur Manganese	234.65
MOIL	307.60
View more..

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