Gujarat Mineral Development Corporation Ltd share Price

Gujarat Mineral Development Corporation Ltd. belongs to the mining and minerals sector with a market capitalization worth Rs. 6,034 crores as of March 31, 2022. Its date of incorporation is May 15, 1963. As of December 2021, it has reported consolidated net sales worth Rs. 724.58 crores, up 101.93% Y-o-Y. The company is listed on the Bombay Stock Exchange (BSE) with the code 532181 and the National Stock Exchange (NSE) with the code GMDCLTD.

Gujarat Mineral Development Corporation Ltd. is India’s largest merchant seller of Lignite. It manufactures lignite, fluorspar, manganese ore, limestone, silica sand, bentonite, bauxite, and ball clay. GMDC operates six lignite mines, namely, Panandharo, Tadkeshwar, Umarsar, Bhavnagar, Rajpardi, and Mata-No-Madh Lignite Mines. It has a workforce of 1,567 employees.

In 1999, the company’s sole owner, the Government of Gujarat, diluted 26% of its stake and made GDMC a listed entity on the Bombay Stock Exchange and the National Stock Exchange. The company holds a position in the top fortune 500 companies in India. Its annual turnover surpasses 10 billion with a significant annual growth rate.

The key people of the company include Mr. Manoj Kumar Das as Chairman, Mr. Arun Solanki as Managing Director, and Ms. Mona Khandar and Ms. Sonal Mishra as Directors. In 2015, CA. Lavanya Kulshrestha, General Manager (Finance) and CFO, was honored by the Institute of Chartered Accountants of India. The Panandharo lignite mine was also bestowed with the National Safety Award by the Ministry of Labor and Employment, Government of India, for the Lowest Injury Frequency Rate.

The Government of Gujarat, as the key promoter of GMDC, holds 74% of the company. The public has a 21.75% holding of the GMDC share. Foreign Institutional Investors hold 1.71%, while Domestic Institutional Investors hold 2.53%.

On March 31, 2022, the GMDC share price on NSE is Rs. 189.75. The GMDC share price on BSE is Rs. 189.85. There is a fall of 0.60% and 0.11% in Gujarat Mineral share price in NSE and BSE, respectively, from the previous day. The 52-week high for GMDCLTD share price was Rs. 197.80, and the 52-week low was Rs. 51.80. 

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