GMDC gallops after blockbuster Q4 outcome

Gujarat Mineral Development Corporation surged 12.79% to Rs 141.50 at 09:25 IST on BSE after net profit jumped 135.81% to Rs 90.01 crore on 42.42% rise in total income to Rs 553.36 crore in Q4 March 2017 over Q4 March 2016.

The Q4 result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 135.47 points or 0.45% at 30,068.72. The S&P BSE Mid-Cap index was up 116.13 points or 0.78% at 14,937.26

On BSE, so far 3.92 lakh shares were traded in the counter as against average daily volume of 73,637 shares in the past one quarter. The stock hit a high of Rs 145 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 134.60 so far during the day. The stock had hit a 52-week low of Rs 64.70 on 17 May 2016.

The mid-cap company has equity capital of Rs 63.60 crore. Face value per share is Rs 2.

Gujarat Mineral Development Corporation (GMDC) is primarily engaged in exploration and development of mineral resources. The Gujarat state government currently holds 74% stake in GMDC (as per the shareholding pattern as on 31 March 2017).

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