GMDCLTD stock is up 3% today: here’s where to buy it

The price of GMDCLTD stock has been on a sharp rise since the beginning of December 2021. It has gained over 130% in the last three months.

To help stock investors interested in investing in GMDCLTD stock, Invezz has created a brief article on what it is and where to buy it.

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What is GMDCLTD stock?

GMDCLTD stock is the stock of Gujarat Mineral Development Corporation LTD and it trades on the National Stock Exchange of India Limited (NSE) using the ticker NSE: GMDCLTD.

The Gujarat Mineral Development Corporation Limited (GMDC) is an Indian state-owned mining company. It mines minerals and lignite.

GMDC was founded in 1963 and it is headquartered in Ahmedabad

GMDC also owns and runs Akrimota Thermal Power Station, a 250 MW lignite-based thermal power plant, located in the village of Nanichher in Lakhpat Taluka, Kutch District.

Should I buy GMDCLTD stock today?

If you want to invest in the stock of a mining company in India, then the GMDCLTD stock could be a good choice.

You should however be cognizant of the fact that India is a close neighbor to Russia which is currently invading Ukraine. If the war between Ukraine and Russia spills over to its neighbors, it would definitely hurt the operations of the GMDC company.

Gujarat Mineral stock price prediction

Going by its strong market sentiments, the GMDCLTD stock is expected by analysts to continue rallying and possibly hit 200 INR before the end of the first quarter of 2022.