rewrite this title and make it good for SEOBudget 2026: GMDC shares rally 5% as FM Sitharaman announces rare earth corridor

Shares of Gujarat Mineral Development Corporation (GMDC) jumped nearly 5% to Rs 603 on the NSE, while NMDC inched up about 1%, after Finance Minister Nirmala Sitharaman unveiled a major new initiative targeting rare earth minerals in her Budget speech.

The government is rolling out a dedicated rare earths corridor, a strategic plan to build a full-fledged supply chain for critical minerals. States like Odisha, Kerala, Andhra Pradesh, and Tamil Nadu are set to become hubs for mining, processing, and distributing these essential resources, the FM mentioned.

Under this initiative, states such as Tamil Nadu will gain from a permanent rare earths development scheme, designed to streamline the entire value chain from extraction to market. The move is likely to strengthen the long-term growth prospects of companies in the rare earth sector, a sentiment already reflected in the recent market rally.

Also read: Catch all the D-Street action on Budget day live here

With global demand for rare earths surging, this corridor could not only position India as a strategic player in the sector but also create new opportunities for investors keeping a close eye on the mining landscape.

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