GMDC shares jump over 7% as company moves closer to operationalising Baitarni-West coal mine
GMDC said it has taken a key step towards operationalising the 15 MTPA Baitarni-West block by onboarding a mining partner and securing crucial statutory clearances.
- Dec 12, 2025,
- Updated Dec 12, 2025 10:26 AM IST
Shares of Gujarat Mineral Development Corporation Ltd (GMDC) surged 7.23 per cent in Friday's trade to hit a high of Rs 529.90 after the mining and mineral PSU announced major progress on its Baitarni-West coal mine in Odisha.
GMDC said it has taken a key step towards operationalising the 15 MTPA Baitarni-West block by onboarding a mining partner and securing crucial statutory clearances. The company has received Stage-I Forest Clearance (FC) and Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change (MoEF&CC), enabling structured advancement of the project.
The Baitarni-West coal block is among three mines acquired by GMDC in Odisha and is considered its most significant asset due to its scale and geological potential. The company noted that the appointment of a mining partner at its Ahmedabad corporate office reflects its focus on phased development and ensuring planned production.
GMDC said the expansion into the coal sector is part of its strategy to build a diversified and future-ready mining portfolio alongside its established lignite operations. The company highlighted that disciplined execution, operational alignment and adherence to statutory timelines will guide the mine's development.
Technically, the counter traded higher than the 5-day, 10-, 20-, 100-, 150-day and 200-day simple moving averages (SMAs) but lower than the 30-day and 5-day SMAs. Its 14-day relative strength index (RSI) came at 48.22. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 16.52/16.61 against a price-to-book (P/B) value of 2.71. Earnings per share (EPS) stood at 31.72/31.55 with a return on equity (RoE) of 16.39. According to Trendlyne data, GMDC has a one-year beta of 1.9, indicating high volatility.
GMDC is a state-owned enterprise and one of India's leading companies in the mining of minerals and lignite. It is headquartered in Ahmedabad, Gujarat.
Shares of Gujarat Mineral Development Corporation Ltd (GMDC) surged 7.23 per cent in Friday's trade to hit a high of Rs 529.90 after the mining and mineral PSU announced major progress on its Baitarni-West coal mine in Odisha.
GMDC said it has taken a key step towards operationalising the 15 MTPA Baitarni-West block by onboarding a mining partner and securing crucial statutory clearances. The company has received Stage-I Forest Clearance (FC) and Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change (MoEF&CC), enabling structured advancement of the project.
The Baitarni-West coal block is among three mines acquired by GMDC in Odisha and is considered its most significant asset due to its scale and geological potential. The company noted that the appointment of a mining partner at its Ahmedabad corporate office reflects its focus on phased development and ensuring planned production.
GMDC said the expansion into the coal sector is part of its strategy to build a diversified and future-ready mining portfolio alongside its established lignite operations. The company highlighted that disciplined execution, operational alignment and adherence to statutory timelines will guide the mine's development.
Technically, the counter traded higher than the 5-day, 10-, 20-, 100-, 150-day and 200-day simple moving averages (SMAs) but lower than the 30-day and 5-day SMAs. Its 14-day relative strength index (RSI) came at 48.22. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 16.52/16.61 against a price-to-book (P/B) value of 2.71. Earnings per share (EPS) stood at 31.72/31.55 with a return on equity (RoE) of 16.39. According to Trendlyne data, GMDC has a one-year beta of 1.9, indicating high volatility.
GMDC is a state-owned enterprise and one of India's leading companies in the mining of minerals and lignite. It is headquartered in Ahmedabad, Gujarat.