AgenciesAxis Securities has buy call on with a target price of Rs 180.
The current market price of . is Rs 155.
Gujarat Mineral Development Corporation Ltd., incorporated in the year 1963, is a Small Cap company (having a market cap of Rs 4878.12 Crore) operating in Mining sector.
Gujarat Mineral Development Corporation Ltd. key Products/Revenue Segments include Lignite, Thermal Power, Renewable Energy System, Interest, Bauxite, Others for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 591.46 Crore, down -50.84 % from last quarter Total Income of Rs 1203.06 Crore and up 19.56 % from last year same quarter Total Income of Rs 494.71 Crore. Company reported net profit after tax of Rs 150.94 Crore in latest quarter.
Investment Rationale
Bounced from “multiple support zone” of 130-120 levels and sustaining above 20-day SMA.
Promoter/FII Holdings
Promoters held 74.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 3.61 per cent, DIIs 2.11 per cent.
The current market price of . is Rs 155.
Gujarat Mineral Development Corporation Ltd., incorporated in the year 1963, is a Small Cap company (having a market cap of Rs 4878.12 Crore) operating in Mining sector.
Gujarat Mineral Development Corporation Ltd. key Products/Revenue Segments include Lignite, Thermal Power, Renewable Energy System, Interest, Bauxite, Others for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 591.46 Crore, down -50.84 % from last quarter Total Income of Rs 1203.06 Crore and up 19.56 % from last year same quarter Total Income of Rs 494.71 Crore. Company reported net profit after tax of Rs 150.94 Crore in latest quarter.
Investment Rationale
Bounced from “multiple support zone” of 130-120 levels and sustaining above 20-day SMA.
Promoter/FII Holdings
Promoters held 74.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 3.61 per cent, DIIs 2.11 per cent.
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