GMDC surges on stock split

DALAL STREET SPIKES

The state-controlled Gujarat Mineral Development Corporation (GMDC) was locked at the upper circuit of 20 per cent and closed at Rs 1,632.60.

The company's shareholders had approved a proposal, on October 8, to split each share of Rs 10 each into five equity shares of Rs 2 each.

The stock witnessed the total volumes of 0.95 lakh shares on the BSE. It has given whopping 31.84 per cent returns last one week and 78 per cent in a month.