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

Balrampur Chini Mills shares rose 4% after the company received a Rs 75 crore grant from the government for a research and development facility. This grant is part of the government's BioE3 initiative, which aims to promote the production of bio-based products. The funding will support the development of a new facility at the company's Kumbhi manufacturing complex in Uttar Pradesh, which will focus on producing a type of biodegradable plastic.

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The government grant will help the company develop a new R&D facility. This could lead to increased investor confidence and higher stock prices.

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