India's GMDC rises as government approves rare earth magnets manufacturing programme

Gujarat Mineral Development

27/11/2025 09:56

** Shares of Gujarat Mineral Development Corporation GMDC.NS rise 5% to 555 rupees

** India approves $816 million rare earth permanent magnets manufacturing programme to cut reliance on imports

** This will benefits companies like GMDC, which is developing a facility capable of processing total rare earth oxides including high-value Neodymium and Praseodymium oxide, an essential input for permanent magnets - ICICI Securities

** Stock rises for a third straight session, gaining 18% in the period

** More than 47 million shares change hands, 14 times their 30-day avg

** Stock up 71% so far in 2025

(Reporting by Nishit Navin in Bengaluru)

((nishit.navin@thomsonreuters.com))