- Shares of Gujarat Mineral Development Corporation surged over 65% intraday on May 26
- India signed a rare earth pact with the US to boost critical mineral supply
- The stock gained 7.25% in one week and nearly doubled in the last year
Shares of Gujarat Mineral Development Corporation (GMDC) surged more than 65 intraday on Tuesday, May 26, after India siged a rare earth pact with the US ti boost crtitical mineral supply. The state-run mining company's stock surged held a positive momentum after External Affairs Minister S. Jaishankar announced the signing of a landmark bilateral framework earlier today between India and the United States to secure supplies of critical minerals and rare earths. The framework on securing supplies of mining and processing of critical minerals was signed on the sidelines of the Quad foreign ministers' meeting here.
Shares of GMDC opened at Rs 655 against a previous close of Rs 655.55 and gained 6.5% to hit an intraday high of Rs 698.20 apiece on the NSE. Shares last traded 5.33% higher at Rs 690.50 apiece on the NSE against a mixed sentiment in domestic market. The stock has gained 7.25% in one week, 3.09% in one month, 15.19% on a year-to-date basis, and has nearly doubled in the last one year. The Ahmedabas-based PSU commands a market cap of Rs 22,005.60 crore, as per exchange data.
GMDC Share Price Today
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