GMDC share price climbs over 19% to hit 52-week high; other metal stocks also shine

The stock advanced as much as 19.39% to ₹743 per unit, its 52-week high level, on the National Stock Exchange (NSE). At 12:35 pm, it was trading 18.43% higher at ₹737 per share.

The scrip has surged 21.75% in the past week and 38.28% in a month. Year to date, it has advanced 22.74%.

The stock recorded a year’s low of ₹280.15 per unit on April 15, 2025.

Last month, GMDC inked a Memorandum of Understanding (MoU) with NMDC to explore opportunities for collaboration in the Rare Earth Elements (REE) sector.

"The collaboration will focus on assessing the potential development of an integrated rare earth value chain in Gujarat, including exploration, mining, beneficiation, processing and downstream applications. 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," the company had said in an exchange filing.

Before that, the company had informed it has received an environment clearance from the Ministry of Environment, Forest and Climate Change for its Lakhpat–Punrajpur Lignite and Limestone Mine located in Gujarat's Kutch.

The Mine was approved with a production capacity of 3 million tonnes per annum (MTPA) of lignite and 29.81 MTPA of limestone. "The integrated development of lignite and limestone resources is expected to support core sectors such as energy generation, cement and other mineral-based industries, thereby improving supply stability and reinforcing GMDC’s strategic relevance within the state’s industrial ecosystem," it had said.

Metal stocks rise

Shares of other metal stocks also traded in the positive territory on April 16.

Vedanta stock hit its 52-week high level of ₹787.85 per unit, up 2.84% intraday, on NSE.

The scrip of Hindalco Industries is trading 3.33% higher at ₹1,045.15, while Hindustan Zinc zoomed 2.78% to ₹596.65.

National Aluminium Company, Hindustan Copper, Steel Authority of India and Lloyds Metals and Energy were also trading with the gains of 2.42%, 1.81%, 1.28% and 1.18% respectively.