Rare Earth Stocks Bullish! GMDC અને NLC India 6% ઉછળી ગયા 💥 | Stock Market News Today

Rare Earth Stocks Bullish! GMDC અને NLC India 6% ઉછળી ગયા 💥 | Shares of government companies related to rare earth saw a tremendous rise today on 22 July. Shares of Gujarat Mineral Development Corporation (GMDC) and NLC India registered a jump of 6% and 5% respectively. This rise has come at a time when the government's focus on the production of rare earth in the country has increased. Recent data from China shows that China has doubled the export of rare earth magnets during the month of June. While China exported 1,238 tonnes of rare earth magnets in May, this figure increased to 3,188 tonnes in June.

Rare Earth Stocks Bullish! GMDC અને NLC India 6% ઉછળી ગયા

Rare Earth Stocks Bullish! GMDC અને NLC India 6% ઉછળી ગયા 💥 

However, earlier China had indicated to stop the supply of these rare earth magnets, due to which many companies in many industries including electric vehicles had expressed the fear of their production being halted. After this warning from China, India has now increased its focus towards reducing its dependence on China for the import of rare earth magnets.

GMDC Share Price

GMDC shares jumped more than 6 percent during trading to reach the level of Rs 468, which is now its new 52-week high. This was the fourth consecutive trading day when GMDC shares remained bullish. During this period, the company's shares have risen by about 22 percent. The special thing was that more than 1.9 crore shares were traded in the company's shares, which was three times more than its 10-day average trading volume.

NLC India Share Price

On the other hand, NLC India's shares also saw a rise of more than 5 percent and its price reached the level of Rs 242. This rise in this stock has come after two consecutive days of decline. However, another big reason behind this rise is also being said to be the company's plan to list its renewable energy branch NIRL.

NLC India Chairman and Managing Director Prasanna Kumar Motupalli told PTI in an interview that the company is preparing to bring an IPO with the aim of raising Rs 4,000 crore. He said, "We will strengthen NIRL's renewable assets by September 2025 and complete legal and financial due diligence by March 2026. Then in the first quarter of 2026-27, we will file DRHP with SEBI."

arlier in May, NLC India also signed a Memorandum of Understanding (MoU) with Indian Rare Earths Limited (IREL), under which the two companies will cooperate in the field of critical minerals. The company's shares have gained more than 400% in the last 5 years.

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