Budget 2026: GMDC and Orissa Minerals Share Price Rise 7% After Announcement of Rare Earth Corridors

On February 1, 2026, the Union Budget highlighted a plan to create dedicated rare earth corridors in four mineral‑rich states, prompting a notable rise in the share prices of Gujarat Mineral Development Corporation (GMDC) and Orissa Minerals Development Company. 

Budget 2026 Announces Rare Earth Corridors 

The Finance Minister announced support for Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish corridors that will promote mining, research and manufacturing of rare earth permanent magnets. The scheme, launched in November 2025, aims to boost domestic capability in strategic minerals. 

Share Price Reaction on February 1, 2026 

Following the announcement GMDC shares rose around 7% to trade at ₹617.8 each, while Orissa Minerals shares also increased about 7% to close at ₹4,776 each. NMDC shares recovered from earlier losses and gained nearly 2%. 

Read More: US to Buy 10% Stake in Rare Earths Miner with $1.6 Billion Investment! 

Key Statements by the Finance Minister 

The Minister highlighted that the corridors will facilitate end‑to‑end value chains for rare earth magnets, encouraging investment in extraction, processing and downstream manufacturing. No additional capital expenditure details were disclosed at the time. 

Conclusion 

The Budget 2026 proposal for rare earth corridors led to a 7% rise in GMDC and Orissa Minerals share prices on February 1, 2026. The announcement underscores governmental emphasis on developing domestic rare earth capabilities across four key states. 

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