Over the three sessions, the stock has gained 22.59%. The momentum has been even stronger over a longer horizon, with the stock rising 38.89% in the past one month and 23.26% on a year-to-date basis.

GMDC, India’s second-largest lignite producer and the leading merchant seller of lignite, is a state-owned enterprise with the Gujarat government holding a 74% stake. The company mines lignite from deposit-rich regions across the state and supplies it to high-growth industries such as textiles, chemicals, ceramics, bricks, and captive power.

On a consolidated basis, GMDC's net profit declined 9.89% to Rs 133.06 crore while net sales declined 11.37% to Rs 579.15 crore in Q3 December 2025 over Q3 December 2024.