Gujarat Mineral Development Corporation (GMDC) surged 10% to ₹565.80 on Friday after Union Minister H D Kumaraswamy announced fiscal incentives for rare earth magnet production. The scheme, worth ₹1,345 crore, aims to support domestic EV supply chains. GMDC’s 74% government-held stake gained ₹12,107.21 crore in notional value with the sharp move.