GMDC stock jumps on joining hands with NMDC for rare earth push in IndiaGMDC stock jumps on joining hands with NMDC for rare earth push in India

Introduction

Leading mining and mineral development firm signed an MoU with a government PSU to explore rare earth elements development, including mining, processing, and downstream applications at Ambadungar.

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Share price movement of GMDC

On March 17, 2026, Gujarat Mineral Development Corporation Ltd opened at ₹540.70, up 1.63% from its previous close of ₹531.90. The stock reached a high of ₹551.50 (3.72%) and a low of ₹535.60 (0.71%). By 11:28 AM, it traded at ₹541.00, a 1.71% increase, with a market cap of ₹17,203.80 crore.

GMDC Signs MoU with NMDC

Gujarat Mineral Development Corporation Ltd (GMDC) signed a Memorandum of Understanding with NMDC Limited to explore collaboration in the Rare Earth Elements (REE) sector, focusing on development opportunities in Gujarat.

The collaboration will assess an integrated rare earth value chain, covering exploration, mining, beneficiation, processing, and downstream applications, primarily targeting GMDC’s Ambadungar Rare Earth deposit.

Both organisations will evaluate technical collaboration, project development, and business structures. The partnership aims to advance resource development, facilitate knowledge exchange, and strengthen India’s domestic rare earth capabilities.

Stock performance of GMDC for period of 1 week, 6 months, and 1 year

Gujarat Mineral Development Corporation Ltd delivered a 1-week return of -2.81%, a 6-month return of -3.61%, and a 1-year return of 116%.

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Shareholding pattern of GMDC

Particulars	Dec 2025	Sep 2025	Jun 2025
Promoter	74.00%	74.00%	74.00%
FII	2.30%	3.30%	2.30%
DII	0.90%	0.80%	0.80%
Public	22.80%	21.90%	23.00%

About GMDC

Gujarat Mineral Development Corporation Ltd (NSE: GMDCLTD) is a state-owned mining company operating five lignite mines, supplying energy and industrial needs, and leading lignite merchant sales in India.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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