Gujarat’s Public Sector Undertakings (PSUs) experienced a mixed performance on the stock exchanges during the first half of the financial year 2025-26. Four state PSUs showed positive growth, while an equal number reported negative or no gains.
Data compiled from the stock exchanges reveals that Gujarat Mineral Development Corporation (GMDC) has emerged as a leading performer among the listed state PSUs, boasting a remarkable stock price increase of 125.17%, rising from ₹265.35 to ₹597.50 between March 28 and September 30. GMDC, a lignite manufacturer, is preparing to commence operations in one of its three coal blocks allocated in Odisha. According to a report by The Businessline, the company plans the ground-breaking ceremony for the Baitarani West Opencast Coal Mine in Angul district during this financial year, with expectations to produce one metric tonne of coal in the fiscal period.
Additionally, the shares of Gujarat State Fertilizers & Chemicals Ltd. (GSFC) increased by 10.91%, reaching ₹196.4 during this six-month span. Gujarat Gas Ltd. and Gujarat State Petronet Ltd. (GSPL) also saw growth, with their stock prices rising by 4.1% and 5.8%, respectively, between March and September 2025.
Earlier this week, the Gujarat government highlighted that these four stocks outperformed the BSE Sensex, which rose by 3.68%, and the Nifty, which increased by 4.64% during the same timeframe. Officials attributed GMDC’s stock valuation rise to global demand for minerals and the corporation’s proactive expansion into crucial mining sectors. The growth of GSFC was noted as reflecting strong fundamentals and increased interest in agricultural inputs amidst changing climate conditions.
Conversely, several other Gujarat PSU stocks, including those from major companies like Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) and Gujarat Alkalies and Chemicals Ltd. (GACL), struggled to impact the market positively. For instance, GACL’s shares declined by 5.39%, closing at ₹547.8 on September 30.
Gujarat State Finance Corporation Ltd. also faced a decrease of over two percent, ending at ₹13.67 at the close of September. Similarly, GNFC’s shares stood at ₹492.3 on September 30, indicating no growth compared to six months prior. The shares of Gujarat Industries Power Company Ltd. (GIPCL) were recorded at ₹181.1 on September 30, nearly unchanged from ₹180.2 on March 28.
Published on October 2, 2025.
