GMDC shares rally 25% in 5 days on rare earth buzz; stock at 52-week high
More than 63.5 lakh GMDC shares were traded on Wednesday, with turnover crossing Rs 295 crore. Overall, the stock has jumped 24.7% in the last five trading sessions, including Wednesday’s intraday gains.
The rally has pushed GMDC’s year-to-date performance to 43.5%, with a 49% rise over the past six months and an 18% gain in just the last month.
The renewed investor interest in rare earth producers comes amid speculation around a potential meeting chaired by Prime Minister Narendra Modi on rare earth magnets. On Wednesday, GMDC witnessed trading volumes of over 1.9 crore shares, nearly three times higher than its 10-day average, signalling strong institutional and retail activity.
Adding to the backdrop, China’s latest export data revealed a sharp increase in shipments of rare earth magnets in June. Total exports rose to 3,188 tons from just 1,238 tons in May, a period marked by tightened export curbs. The recovery in outbound shipments has helped ease some global supply concerns that had earlier threatened manufacturing operations across several geographies.
NLC India also rallies
Shares of fellow PSU player NLC India rose as much as 2.8% on Wednesday to Rs 248.05 on the BSE, supported by developments related to both its renewable energy business and rare earth ambitions.Chairman and Managing Director Prasanna Kumar Motupalli told PTI that NLC India aims to raise Rs 4,000 crore via an IPO of its renewable arm, NLC India Renewables Ltd (NIRL), with draft papers expected to be filed with Sebi in the first quarter of FY27.Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results?
The company has also been stepping up its involvement in the critical minerals space. In May, NLC India signed a memorandum of understanding with Indian Rare Earths Limited (IREL) to collaborate in the development of critical minerals.
Trading activity in NLC India was also brisk, with over 29.69 lakh shares changing hands on Wednesday, translating to turnover worth Rs 72.54 crore. The stock is now up 6.7% in the past six months, though its gains for 2025 stand at a more modest 1%.
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