Meanwhile, the BSE Sensex was up 102.91 points or 0.63% to 16,519.75.

On BSE, 21,000 shares were traded in the counter as against average daily volume of 48,344 shares in the past one quarter.

The stock hit a high of Rs 176 and a low of Rs 171 so far during the day. The stock had hit a 52-week high of Rs 212.60 on 29 February 2012. The stock had hit a 52-week low of Rs 139.25 on 21 June 2011.

The mid-cap stock had underperformed the market over the past one month till 28 May 2012, falling 7.75% compared with the Sensex's 4.48% decline. The scrip had also underperformed the market in past one quarter, declining 17.42% as against Sensex's 7.41% fall.

The company has an equity capital of Rs 63.60 crore. Face value per share is Rs 2.

The Gujarat Mineral Development Corporation's (GMDC) stock has surged 6.93% in two trading sessions from Rs 163.70 on Friday, 25 May 2012, after the company announced strong Q4 results after market hours on 25 May 2012. The stock had rallied 5% to settle at Rs 171.90 on Monday, 28 May 2012.

GMDC's consolidated net profit jumped 40.7% to Rs 158.57 crore on 15.6% growth in net sales to Rs 536.96 crore in Q4 March 2012 over Q4 March 2011. Consolidated net profit rose 29.9% to Rs 486.76 crore on 14.8% growth in net sales to Rs 1630.70 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

GMDC is primarily engaged in exploration and development of mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. It is also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.