Stock of this industrial minerals PSU has zoomed nearly 300% since Apr 2023

Shares of Gujarat Mineral Development Corporation (GMDC) rallied 11 per cent to a new high of Rs 502.15 on the BSE in Tuesday’s intra-day on the back of heavy volumes.

The state-owned GMDC on Monday said that it has received a green nod to expand the capacity of its Surkha lignite mine in Gujarat. The enhanced lignite production capacity is likely to drive substantial revenue growth, it said.

The environment clearance was accorded by the govt for expanding the capacity of Surkha (N) lignite mine from 3 million tonnes per annum (MTPA) to 5 MTPA.

GMDC caters to nearly 25 per cent of