Balrampur Chini Mills shares rally 4% as company receives Rs 75 crore BioE3 grant from government
Balrampur Chini Mills shares gained after the government awarded a Rs 75 crore BioE3 grant for a 100 TPA PLA co-polymer R&D facility at its Kumbhi manufacturing complex in Uttar Pradesh.
Balrampur Chini Mills' shares surged by 4%, reaching a trading high of Rs 689 on the NSE, following the Indian government's award of a Rs 75 crore BioE3 grant. The grant, administered by the Biotechnology Industry Research Assistance Council (BIRAC) under the Department of Biotechnology (DBT), aims to establish a 100 TPA PLA CoPolymer R&D Facility under India's BioE3 initiative.
This facility, to be set up at BCML's Kumbhi manufacturing complex in Uttar Pradesh, will boost India's bioeconomy and advance bio-based materials. It will foster indigenous biomanufacturing capabilities, accelerate sustainable materials development, and attract industry and research collaborations.
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