Meanwhile, the BSE Sensex was up 376.46 points, or 2.63%, 14,672.47.

On BSE, 7.07 lakh shares were traded in the counter. The stock had an average daily volume of 7.11 lakh shares in the past one quarter.

The stock hit a high of Rs 93.70 and a low of Rs 89.15 so far during the day. The stock hit a 52-week high of Rs 161.68 on 18 June 2008 and a 52-week low of Rs 25.10 on 2 December 2008.

The stock has risen 36.41% from a recent low of Rs 67.15 on 13 May 2009. The mid-cap stock had outperformed the market over the past one month till 28 May 2009, surging 71.03% as compared to the Sensex's return of 29.94%. It had also outperformed the market in the past one quarter, soaring 147.84% as compared to the Sensex's return of 60.78%.

The company's current equity is Rs 63.60 crore. Face value per share is Rs 2.

The current price of Rs 91.60 discounts the company's Q4 March 2009 annualized EPS of Rs 8.88, by a PE multiple of 10.32.

Gujarat Mineral Development Corporation (GMDC)'s net sales declined 1.9% to Rs 316.38 crore in Q4 March 2009 over Q4 March 2008. The company announced the results after trading hours on Thursday, 28 May 2009.

GMDC's net profit declined 10.5% to Rs 236.31 crore on 0.3% fall in net sales to Rs 977.67 crore in the year ended March 2008 over the year ended March 2008.

At the time of announcing results, the board of directors of the company recommended a dividend at the rate of Rs 2 per share (100%).

The company is engaged in explore and develop mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. They are also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.