Stock of this state-owned mining company has zoomed 120% in two months

At 12:26 pm; GMDC was trading 15 per cent higher at Rs 158, as compared to a 0.13 per cent decline in the S&P BSE Sensex.

Shares of Gujarat Mineral Development Corporation (GMDC) hit an over four-year high of Rs 162.15, rallying 18 per cent in Thursday’s intra-day trade on expectations of strong earnings due to rising commodity prices. The stock of the state-owned mining company was traingd at its highest level since January 2018 on the back of heavy volumes.

Most of the commodities including crude oil and metals are hitting multi-year highs as tensions between Russia and Ukraine have flared up and are creating havoc in most of the asset classes.

GMDC is one of the leading mining player in India. The