Gujarat Mineral Development Corporation Hits New Low Amid Broader Sector Decline
Gujarat Mineral Development Corporation (GMDC) has seen significant stock activity, reaching a new 52-week low. The stock has declined over the past two days and underperformed the mining sector. Despite a high dividend yield, GMDC's performance contrasts sharply with broader market gains over the past year.
Gujarat Mineral Development Corporation (GMDC) has experienced significant activity today, marking a notable decline in its stock performance. The stock reached a new 52-week low of Rs. 266.5, reflecting a downward trend that has persisted over the last two days, with a total decline of 5.18%. Despite opening with a 2% gain, GMDC's performance has underperformed the mining and minerals sector, which itself has seen a decrease of 2.92%.Throughout the trading session, GMDC touched an intraday high of Rs. 283.25 before falling to its day's low of Rs. 266.5. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past year, GMDC has recorded a decline of 33.99%, contrasting sharply with the Sensex, which has gained 5.29%. Additionally, the company maintains a high dividend yield of 3.44% at the current price, providing some return to shareholders amidst the stock's recent struggles.
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