Stock market means a place of possibilities, where profits can be earned by investing at the right time. According to brokerage Edelweiss, the shares of Gujrat Mineral Development Corporation (GMDC) can do wonders in the stock market in the coming times. Presently the company is well positioned in the lignite business due to better production.
The company has given strong returns to investors so far this year. During this period, the company’s shares have seen a rise of 166%. At the same time, talking about the last one year, the company’s shares have seen a jump of 255%. The brokerage has maintained a buy rating at a target price of Rs 245 per share.
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According to Edelweiss’s notes, ‘We believe GMDC is moving in the right direction. And better efforts are also being made by the management. As the existing business is being further improved. Also the focus is on prices and market conditions. According to the brokerage, the next few months are going to be very important for the company. Lignite prices are likely to remain high. The performance of the Lignite division has shown improvement in the recent quarter.