The shares of the state-owned firm jumped to Rs 599 apiece on NSE, round 8% away from its 52-week excessive degree of Rs 651 apiece, which the inventory hit in October final yr.
Friday’s sharp positive aspects come after studies claimed GMDC’s addition to LSEG’s FTSE Global Equity Index Series (FTSE GEIS). Additionally, the corporate introduced earlier this month that it entered right into a Memorandum of Understanding (MoU) with Navratna agency NMDC to discover alternatives for collaboration within the Rare Earth Elements (REE) sector.
The firm stated that the partnership will concentrate on assessing the potential growth of an built-in uncommon earth worth chain in Gujarat, together with exploration, mining, beneficiation, processing and downstream purposes.
“The engagement will primarily explore opportunities associated with GMDC’s Ambadungar Rare Earth deposit, a strategic initiative aimed at strengthening India’s capabilities in the rare earths sector,” it added.
GMDC stated that the collaboration is a part of its broader uncommon earth growth roadmap for the Ambadungar deposit. “The collaboration with NMDC brings together complementary institutional strengths and technical expertise to explore opportunities in the rare earth sector. Through this initiative, GMDC aims to advance the development of a sustainable rare earth value chain while contributing to India’s critical mineral resilience and industrial progress,” stated GMDC MD Roopwant Singh.
After stellar positive aspects within the morning buying and selling hours, the inventory erased some positive aspects to commerce 7% larger at Rs 573 apiece within the afternoon, as seen at 1 pm. The inventory remains to be down over 4% in 2026.The firm reported a weak set of numbers in its December quarter outcomes earlier this yr. Its Q3 consolidated web revenue fell 10% year-on-year (YoY) to Rs 133 crore, whereas whole income declined 11% YoY to Rs 680 crore within the quarter beneath evaluate.
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Nuvama Institutional Equities, in its post-earnings evaluate, maintained a ‘Reduce’ stance on the inventory for a goal of Rs 231. GMDC posted higher than estimated EBITDA of Rs 103 crore in Q3 FY26, versus Rs 86 crore estimated by the brokerage. Though the 250MW thermal energy plant has restarted, larger preliminary working prices stored the facility section in losses, it stated, including that the thermal energy plant is prone to return to earnings in FY27.
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