GMDC Share: A government decision sparked a strong rally in the stock, with a fresh 8% jump in the stock.

News Topical, Digital Desk : Shares of Gujarat Mineral Development Corporation Limited (GMDC) rose by 8% on Thursday, November 27th. This is the third consecutive session in which the stock has seen an increase. The rise in the company's shares comes after a major policy decision taken by the central government. Investors welcomed this major policy move by the central government. The Union Cabinet led by Prime Minister Narendra Modi has approved an incentive scheme worth Rs 7280 crore to accelerate domestic production of essential minerals in India and reduce dependence on China.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a ₹7,280 crore incentive package aimed at increasing domestic production of critical minerals in India and reducing dependence on China. Following the meeting, Union Minister Ashwini Vaishnav said the initiative aims to address the shortage of rare earth magnets by building a capacity of 6,000 metric tons annually. Five manufacturing units with 1,200-tonne capacities will be set up in India over the next three years as part of a larger seven-year plan to build end-to-end facilities.

China holds 90% of rare earth processing . This move connects India with other global economies that are seeking to reduce their exposure to China, which currently handles approximately 90% of the world's rare earth processing. Beijing's export ban imposed during a trade dispute with the US earlier this year has reduced supplies for automakers and other industries worldwide. The new scheme is expected to provide financial incentives, tax support, and other benefits to local producers. For GMDC, which has interests in bauxite, rare earth minerals, and lithium exploration, the policy change could reduce development costs and open up new opportunities in mining and processing. 

Share Performance: On Thursday, the company's shares were trading at ₹553.60, up 4.83 percent. Over the past three months, the stock has gained nearly 38 percent. Over the past year, the company's shares have gained 59.01 percent. Tata Elxsi Share: The company signs a major deal with this network technology company. 

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