Mid-Day Mover: Why these companies are BSE top gainers?

These shares have rallied in today’s trading session.

While markets opened flat, as of noon, BSE Sensex was up by 0.28 per cent.  

Gujarat Mineral Development Corporation ascends more than 16 per cent 

Gujarat Mineral Development Corporation Limited is a major Indian state-owned minerals and lignite mining company. Its product range includes essential energy minerals like lignite, base metals and industrial minerals like bauxite and fluorspar. The share price has rallied more than 16 per cent in the first half of today's trading session. The company is on an uptrend since the sanctions imposed on Russia by various countries as Russia is one of the major exporters of metal. The company has made the announcement it has scheduled in-person meetings with institutional investors such as Invexa Capital, Capri Global Advisory Services, Valium Capital, and Edelweiss Financial Services on March 4, 2022. 

Coal India has jumped more than 2.5 per cent 

Coal India, the largest coal-producing company has got upward momentum in the first half of today's trading session. The share price has increased by 27.17 per cent in the last 4 trading sessions. European coal surged to historic highs as sanctions against Russia for its assault on Ukraine tightened the global market supply. Benchmark thermal coal in Asia, the largest market for the fuel, soared 46 per cent to a record as concerns about disruption to supplies from Russia turbocharged concerns over tight energy markets. 

Hindustan Petroleum Corporation zooms more than 5 per cent  

Hindustan Petroleum is mainly engaged in the business of refining crude oil and marketing petroleum products and production of hydrocarbons. The share price rallied more than 5 per cent after the speculation that petrol and diesel price may resume after state elections get over next week to bridge the Rs 9 a litre gap created by international oil prices soaring past USD 100 a barrel.