30 MAY 2013Business Standard
India’s Gujarat Mineral Development Corporation rises on bargain hunting
Edited by : AL CIRCLE
1 min read
Gujarat Mineral Development Corporation jumped on bargain hunting after the stock fell 9.52% in the preceding eight trading sessions to INR 135.95 on 27 May 2013, from a recent high of INR 150.25 on 15 May 2013.
The stock had underperformed the market over the past one month till 27 May 2013, sliding 10.97% compared with the Sensex's 3.86% rise. The scrip had also underperformed the market in past one quarter, falling 27.84% as against Sensex's 4.59% rise.
The mid-cap company has an equity capital of USD 11.42 million. Face value per share is Rs 2. Net profit of GMDC declined 0.20% to USD 20.16 million on 7.97% fall in net sales to USD 63.49 million in December quarter 2012 over December quarter 2011.
GMDC is primarily engaged in exploration and development of mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. It is also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.
As on 31 March 2013, the Gujarat state government held 74% stake in GMDC.
The stock had underperformed the market over the past one month till 27 May 2013, sliding 10.97% compared with the Sensex's 3.86% rise. The scrip had also underperformed the market in past one quarter, falling 27.84% as against Sensex's 4.59% rise.
The mid-cap company has an equity capital of USD 11.42 million. Face value per share is Rs 2. Net profit of GMDC declined 0.20% to USD 20.16 million on 7.97% fall in net sales to USD 63.49 million in December quarter 2012 over December quarter 2011.
GMDC is primarily engaged in exploration and development of mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. It is also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.
As on 31 March 2013, the Gujarat state government held 74% stake in GMDC.
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