Gujarat mineral development corporation Limited has addressed concerns raised by the Bombay Stock Exchange regarding unusual trading activity in its securities. The company issued a formal clarification on March 23, 2026, responding to BSE's inquiry about the recent surge in trading volumes across exchanges.

Regulatory Compliance and Disclosure

The company confirmed its adherence to all regulatory requirements in its response to the stock exchange. GMDC stated that it has made all necessary disclosures pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market-Driven Volume Movement

The Gujarat-based mineral development corporation emphasized that the increase in trading volume appears to be purely market-driven. Company Secretary Joel Shantilal Evans, who signed the clarification, stated that the organization is not aware of any specific reasons that would contribute to such volume movement.

The company explicitly confirmed that there is no undisclosed information or event, including any impending announcement, which may have a bearing on the price or volume behavior of the company's securities. This statement aims to reassure investors and regulatory authorities about the transparency of the company's operations.

Corporate Information

Gujarat Mineral Development Corporation Limited operates as a Government of Gujarat Enterprise with CIN L14100GJ1963SGC001206. The company is headquartered at Khanij Bhavan, 132 Ft. Ring Road, Near University Ground, Vastrapur, Ahmedabad. The organization is currently implementing Project Shikhar, described as a strategic transformation initiative.

The clarification demonstrates the company's commitment to maintaining regulatory compliance and transparent communication with stock exchanges and investors regarding any unusual market activity in its securities.

Gujarat Mineral Development Corporation Limited (GMDC) has formalized its strategic partnership with NTPC Limited through an official Memorandum of Understanding signed on February 26, 2026. The collaboration focuses on exploring advanced gasification technologies for coal and lignite resources, as announced through a regulatory filing under SEBI Regulation 30.

Strategic Gasification Initiative

The MoU establishes a comprehensive framework for joint exploration of gasification opportunities across GMDC's mineral resources. The initiative encompasses coal from GMDC's blocks in Odisha and lignite from its mining operations in Gujarat, targeting innovative approaches to resource utilization and value creation.

Four-Pillar Implementation Strategy

The collaboration operates through four key strategic pillars designed to ensure systematic progression. GMDC will undertake pilot projects for gasification, including both surface and underground approaches for coal and lignite, evaluating technical feasibility and operational parameters. NTPC will assess potential end-use applications of produced syngas, examining techno-commercial viability and market opportunities across industrial sectors.

Joint Commercialization Framework

Both organizations will work toward developing mutually agreed frameworks for joint production, marketing, and commercialization of syngas following successful pilot outcomes. The partnership includes formulation of a time-bound action plan to facilitate systematic initiative progression, with GMDC already initiating preliminary assessments of downstream product commercialization and marketing strategies.

Management Vision

Shri Roopwant Singh, IAS, Managing Director of GMDC, emphasized the collaboration's significance: "The collaboration with NTPC reflects GMDC's commitment to innovation-led growth and optimal utilisation of mineral resources. Exploring gasification technologies offers a greener pathway to creating greater value while supporting national objectives of energy security and industrial development."

About GMDC

Gujarat Mineral Development Corporation Limited operates five lignite mines across Kutch, South Gujarat, and the Bhavnagar region, supporting critical energy and industrial requirements. The corporation is recognized as the largest merchant seller of lignite in the country, maintaining a strong track record of responsible mining and resource development. GMDC trades on BSE under code 532181 and NSE under symbol GMDCLTD.