According to the analyst from Anand Rathi, GMDC can rally to Rs 168 on the upside, while NMDC can jump to Rs 114.
Company says 10 million tonnes production this year, sees gaining business from small businesses
The mining company has roped in the Boston Consulting Group (BCG) for its strategic transformation, apart from McKinsey & Co. for the development of REE assets
CLOSING BELL: Sectorally, all the indices ended in the green zone, led by the Nifty Realty and Auto indices, up 3.5 per cent and 3 per cent, respectively
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.
Closing Bell: Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent
Sectorally, the Nifty PSU Bank index jumped a massive 5 per cent on the NSE, while the Nifty Bank and Private Bank indices added about a per cent each
In the past one week, the stock has zoomed 44 per cent, on expectation of improvement of company's performance, primarily due to the price hikes taken in the lignite division.
The company posted net profit at Rs 90 crore in Q4 against Rs 40 crore in a year ago quarter
This comes in the wake of GMDC seeing a growth in its plant load factor from 28% last year to 36% in wind power
The stock rallied 11% to Rs 101 after the company reported 60% year on year jump in profit at Rs 115 crore for Q1 FY17.