Stock Market Update: Balrampur Chini jumps 4% after foray into PLA

Balrampur Chini Mills Limited witnessed a nearly 4 percent surge in its shares, reaching Rs 386 in early trade on February 19. The boost follows the company’s announcement of its entry into manufacturing polylactic acid (PLA), a key component in the production of bioplastic.

The decision reflects Balrampur Chini Mills’ commitment to environmentally conscious practices, aligning with its existing business model while fostering a more sustainable and responsible approach to manufacturing.

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As of 10:39 am, the company’s shares continued their upward trajectory, trading 3.50 percent higher at ₹384.80.

The company is planning to invest approximately Rs 2,000 crore, with Rs 800 anticipated to be sourced from accruals and the remaining Rs 1,200 crore to be acquired through phased debt financing over a span of approximately 2.5 years.