{"id":112063,"date":"2023-10-17T17:40:00","date_gmt":"2023-10-17T12:10:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112063"},"modified":"2023-10-17T16:45:46","modified_gmt":"2023-10-17T11:15:46","slug":"gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock\/","title":{"rendered":"Gujarat Chief Minister receives \u20b9 269 Cr dividend cheque from this PSU stock"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-632817538\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This S&amp;P BSE Smallcap Stock is a PSU with 74% being held in the President of India\u2019s Portfolio has announced Rs. 269 crore dividend toward the Gujarat Government, in the name of Gujarat Chief Minister. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3425477185\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company has a market cap of Rs. 13,243 crore and is 4% away from its 52 week high, trading at Rs. 416.45 versus Rs. 416.20 at previous close. The company has a strong Piotroski F score of 7 and a net profit CAGR of 102 over the last 3 year period.\u00a0<\/p><p>In a filing dated 16th October 2023, <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GMDCLTD\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Gujarat Mineral Development Corporation Ltd<\/a><\/strong> (\u2018GMDC\u201d), a leading mining PSU Enterprise and the largest lignite seller in the country presented a substantial dividend cheque of Rs 269.44 Crore to the Hon&#8217;ble Chief Minister of Gujarat. This momentous occasion solidifies GMDC&#8217;s commitment to advancing the state&#8217;s forward-looking initiatives and bolstering prosperity for shareholders in public sector undertakings (PSUs).<\/p><p>The Gujarat government&#8217;s visionary policy, tailored to elevate the valuation of the state&#8217;s PSUs, stipulates a minimum dividend of 30% of profit after tax or 5% of net worth, whichever is higher, as the minimum level of dividend to be declared for shareholders. The Gujarat government&#8217;s 74% share in GMDC played a pivotal role in driving the corporation towards the extraordinary achievement of presenting a dividend cheque equivalent to 30% of GMDC&#8217;s net profit for the fiscal year 2022-23.<\/p><div class=\"trade-content_5\" id=\"trade-2727414702\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>On this strategic move, Shree Roopwant Singh, IAS, Managing Director, GMDC said, &#8220;GMDC takes immense pride in aligning with Gujarat&#8217;s progressive policies. The increased dividend reflects our commitment to creating enduring value for our shareholders. This strategic move exemplifies our dedication to fostering economic growth and prosperity in collaboration with the visionary policies set by the Government of Gujarat.&#8221;<\/p><p>The Gujarat Mineral Development Corporation Limited is a prominent Indian mining company. It is a state-owned, publicly traded company run by the Gujarati government. There are five active lignite mines owned by the state that are situated in the Kutch, South Gujarat, and Bhavnagar regions. It is said to be the the biggest commercial seller of lignite in the nation.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Sandeep R<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-763718162\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This S&amp;P BSE Smallcap Stock is a PSU with 74% being held in the President of India\u2019s Portfolio has announced Rs. 269 crore dividend toward the Gujarat Government, in the name of Gujarat Chief Minister. The company has a market cap of Rs. 13,243 crore and is 4% away from its 52 week high, trading [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":97870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[13440,13439,12141,948,936],"class_list":["post-112063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-gmdc-dividend-to-gujarat-cm","tag-gmdc-latest-news","tag-gmdc-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gujarat Chief Minister receives \u20b9 269 Cr dividend cheque from this PSU stock - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"This S&amp;P BSE Smallcap Stock is a PSU with 74% being held in the President of India\u2019s Portfolio has announced Rs. 269 crore dividend toward the Gujarat Government, in the name of Gujarat Chief Minister.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gujarat Chief Minister receives \u20b9 269 Cr dividend cheque from this PSU stock\" \/>\n<meta property=\"og:description\" content=\"This S&amp;P BSE Smallcap Stock is a PSU with 74% being held in the President of India\u2019s Portfolio has announced Rs. 269 crore dividend toward the Gujarat Government, in the name of Gujarat Chief Minister.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-17T12:10:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/market-cover-image-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock\/\",\"url\":\"https:\/\/tradebrains.in\/features\/gujarat-chief-minister-receives-269-cr-dividend-cheque-from-this-psu-stock\/\",\"name\":\"Gujarat Chief Minister receives \u20b9 269 Cr dividend cheque from this PSU stock - 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