Multibagger Stock Alert: The company board approves a capital expenditure of Rs 3,041 crore for FY25!
The stock has delivered nothing short of a multibagger return, with an impressive 200 per cent surge.
Gujarat Mineral Development Corporation Ltd's Board of Directors has greenlit a substantial Rs 3,041 crore capital outlay for the fiscal year 2025, signaling a robust commitment to growth and sustainability in the mineral sector. This budget allocation will propel GMDC towards innovation and industry leadership, focusing on strategic priorities.
A significant portion of the funds, Rs 1,138 crore, will be directed towards new lignite projects, aiming to enhance existing operations and venture into new opportunities. Additionally, Rs 629 crore has been earmarked to accelerate the operationalization of coal blocks in Odisha, contributing to regional industrial growth and national energy security.
Recognizing the importance of critical minerals in the global economy, Rs 462 crore will be allocated for the expansion and modernization of metal projects, with a focus on rare earth elements crucial for high-tech industries and national security.
In a forward-thinking move towards sustainability, GMDC will invest Rs 371 crore in power projects, with a strong emphasis on renewable energy. Over 300+ crore will be dedicated to revamping the Akrimota Thermal Power Station, aligning with efforts to reduce financial losses associated with thermal power generation and transition towards a more resilient energy portfolio.
These strategic investments underscore GMDC's commitment to environmental stewardship, energy security, and financial viability, positioning the company for long-term success in the evolving energy landscape.
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Turning our attention to GMDC's performance over the past year, the stock has delivered nothing short of a multibagger return, with an impressive 200 per cent surge. This remarkable growth further cements GMDC's position as a stock worth keeping a close watch on.
Disclaimer: The article is for informational purposes only and not investment advice.