Balrampur Chini Mills shares rally 4%, Receives grant

Balrampur Chini Mills shares rally 4% as company receives Rs 75 crore BioE3 grant from government.

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Shares of Balrampur Chini Mills jumped 4% on Friday to the day’s high of Rs 689 on NSE after the Government of India awarded a Rs 75 Crore BioE3 grant to advance India's bioeconomy. According to a filing with the exchange, this was awarded by the Biotechnology Industry Research Assistance Council (BIRAC) under the Department of Biotechnology (DBT), Government of India, for establishing a 100 TPA PLA CoPolymer R&D Facility under the Government's flagship BioE3 (Biotechnology for Economy, Environment & Employment) initiative. The grant will accelerate the development of advanced biobased materials, strengthen India's indigenous biomanufacturing capabilities and reinforce the country's ambition to emerge as a global bioeconomy powerhouse. The pilot-scale R&D facility will be established at BCML's integrated manufacturing complex in Kumbhi, Uttar Pradesh, where the company is also setting up India's first integrated commercial PLA manufacturing facility. The new facility will serve as the innovation engine for developing next-generation PLA grades and Co-polymers, enabling rapid product development, technology indigenisation, customer validation and seamless scale-up to commercial production. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24