PSU Mining Co Recommends Upward Revision In Dividend, Shares Soar 194% In 2-Yrs

Board of public sector company, Gujarat Mineral Development Corporation Ltd on August 17, 2023 recommended an upward revision in dividend. Last trading price of Gujarat Mineral Development share is Rs 181.70 apiece with intraday jump of 2.16%. Gujarat Mineral Development shares witnessed a rally of 280% in last 2-years. Check details below:

Gujarat Mineral Development Revises Dividend: According to the BSE filing of the company dated August 17, 2023, "Board of Directors of Gujarat Mineral Development Corporation Ltd, in its meeting held on 17th August, 2023, has decided to upwardly revise the dividend for FY 2022-23 to Rs. 11.45 per share having face value of Rs. 2.00 each, as against dividend of Rs. 9.10 recommended earlier on 30.05.2023."

Gujarat Mineral Development Stock Performance & Return Over Years: Last trading price of Gujarat Mineral share is Rs 181.70 apiece on BSE. Its 52-week high price is Rs 188.00 per share and 52-week low price is Rs 122.75 per share, respectively. It has a market capitalisation of Rs 5,778.06 crore. Gujarat Mineral Development shares surged 25% in last 6-months, 3% in last 1-year, and 193% in last 2-years. In last 5-years, Gujarat Mineral Development shares jumped 54%.

Gujarat Mineral Development Financial Performance: The small cap company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 826.77 crore, down 30.44% as compared to its last quarter total income of Rs 1,188 crore. The company announced its net profit after tax at Rs 215.59 crore in recent quarter.

Gujarat Mineral Development About: Gujarat Mineral Development Corporation Limited is a government of Gujarat enterprise. It was incorporated with the objective to develop major mineral resources in the Gujarat. It came into existence in 1963 and operates in mining sector.

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