GMDC shares rally 10.15 per cent during Wednesday trading session
The Gujarat Mineral Development Corporation stock extended a two-day winning streak as trading volumes surged more than 17.28 times.
Shares of Gujarat Mineral Development Corporation (GMDC) rose nearly 10.15 per cent on Wednesday, November 4, according to a report by Mint. The public sector undertaking (PSU) extended a two-day winning streak, with the stock closing at ₹468.80 per share on the BSE.
The rally occurred alongside a surge in trading volume, which increased more than 17.28 times. BSE data showed that GMDC shares saw 31,700 trades at 11:18 AM on Wednesday.
The recent uptick follows a period where the share price reached its 52-week low of ₹394.95 on November 2, 2026. This decline happened after the company announced its second quarter results for the financial year 2026-27.
In its Q2FY27 results, GMDC reported a net profit of ₹170.79 crore, which was a 63 per cent decrease from the ₹465.75 crore profit reported in the same quarter of the previous year. However, the company's total income for the quarter rose to ₹986.78 crore from ₹635.76 crore in the year-ago period, per its BSE filing.
While the stock has declined 21.78 per cent in 2026 so far, it has delivered a 539 per cent return over five years. The company's market capitalisation stood at ₹14,907.84 crore on Wednesday.