There are many such stocks which have given multibagger returns in the first three months of the year. One of these mining companies is Gujarat Mineral Development Corporation (GMDC). The shares of this company have given multibagger returns in the January-March 2022 quarter. This PSU metal stock has given more than 160 per cent returns in 2022 so far, while having gained about 255 per cent in one year.
Share Price: The share price of Gujarat Mineral Development is at a price of more than Rs 191 on the BSE Index. The share price of the company has gone up to Rs 198.75 during the trading. This is the 52-week high. Talking about the market capital, it is more than 6 thousand crores.
Price will go up to Rs 245: According to domestic brokerage and research firm Edelweiss, the share price will go up to Rs 245. Along with this the brokerage has maintained its ‘Buy’ rating on Multibagger stock. The brokerage believes that the company is making huge gains in the lignite business. The company is also focusing on bauxite, bentonite and silica sand mining.
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According to the brokerage, the next few months will be crucial for GMDC as BCG and ATK will present their recommendations and findings. Gujarat Mineral Development is a mining and mineral processing company in India.