GMDC recovers after recent sharp slide

Gujarat Mineral Development Corporation jumped 4.55% to Rs 143.55 at 12:27 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was down 60.99 points, or 0.2% at 30,897.26. The S&P BSE Mid-Cap index was up 45.19 points, or 0.31% at 14,514.07.

On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 144.70 and a low of Rs 136 so far during the day. The stock had hit a 52-week high of Rs 159.75 on 19 June 2017 and a 52-week low of Rs 69.50 on 27 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, advancing 2.12% compared with the Sensex's 0.23% fall. The scrip had also outperformed the market over the past one quarter advancing 11.4% as against the Sensex's 5.89% rise. The scrip had also outperformed the market over the past one year advancing 93.38% as against the Sensex's 17.25% rise.

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

Shares of Gujarat Mineral Development Corporation had declined 11.87% in the preceding five trading sessions to settle at Rs 137.30 yesterday, 27 June 2017, from its closing price of Rs 155.80 on 19 June 2017.

Gujarat Mineral Development Corporation's net profit spurted 127.6% to Rs 90.01 crore on 48.8% increase in net sales to Rs 525.49 crore in Q4 March 2017 over Q4 March 2016.

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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