GMDC hits fresh 52-week high; NLC India gains amid buzz on IPO of renewable arm and rare earth collaboration with IREL.
Shares of Gujarat Mineral Development Corporation (GMDC) and NLC India surged up to 6% on July 22, following encouraging data from China showing a sharp rise in rare earth magnet exports. This rebound in global supply comes after months of constrained availability, which had disrupted global manufacturing and escalated trade tensions.
According to official data, China exported 3,188 tons of rare earth magnets in June—more than double the 1,238 tons exported in May, when restrictive policies led to a near-crisis in downstream sectors. This sharp recovery in supply has spurred interest in Indian rare earth-related PSU stocks, which are seen as strategic alternatives or hedge bets amid long-term global shifts away from Chinese dependence.
Check This: Gujarat Mineral Development Corporation (GMDC) Stock Price
GMDC Stock Hits New High; Volume Soars to 3x Average
GMDC shares jumped 6% intraday to ₹468 before settling around ₹462 apiece by 1:30 p.m., marking their fourth straight session of gains. The stock also recorded a 52-week high, driven by strong delivery-based buying and rising investor interest linked to policy expectations.
Speculation is intensifying around a possible meeting by Prime Minister Modi focused on boosting India’s rare earth magnet capabilities, which could benefit GMDC given its mining exposure. Over 1.9 crore shares changed hands, nearly three times its 10-day average volume, signaling institutional accumulation.
Technically, GMDC remains in a bullish channel with immediate support at ₹435 and momentum targets placed near ₹490–500 if buying sustains post policy confirmation.
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NLC India Rises Over 5% Amid IPO Buzz and Strategic Mineral Push
NLC India shares rose more than 5% to trade at ₹242, recovering from a two-day decline. The surge comes amid news that the PSU plans to launch an IPO of its renewable energy subsidiary, NIRL, by Q1 FY27, with an aim to raise ₹4,000 crore. Chairman and Managing Director Prasanna Kumar Motupalli confirmed the timeline in a recent interview with PTI, adding that due diligence would conclude by March 2026.
Adding to investor excitement, NLC India had earlier signed an MoU with Indian Rare Earths Limited (IREL) in May to collaborate in the exploration and production of critical minerals. This has positioned the company favorably in India’s broader energy and mineral security strategy.
Over 36 lakh shares were actively traded today—3.5 times the 10-day average—highlighting renewed investor interest amid structural developments and upcoming corporate actions.
Sector Impact and Stock Watchlist
The broader PSU and strategic mineral ecosystem saw bullish sentiment today, although the Nifty Metal Index remained subdued due to global risk-off cues. Rare earth-linked stocks are expected to remain in focus as India charts its long-term mineral independence roadmap.
Stocks to Watch:
GMDC: Bullish above ₹450; breakout above ₹470 could trigger ₹500+ momentum
NLC India: IPO-related triggers likely to keep ₹250 in focus
IREL (if listed) and unlisted strategic mineral firms may gain traction as next policy steps unfold
Upcoming Catalysts:
Cabinet-level meeting on rare earth policy
NLC India’s DRHP filing and valuation details in FY27
Further MoUs or expansions in rare earth mining/processing capacity
