Balrampur Chini Mills has approved a new ₹160 crore lactogypsum plant in Uttar Pradesh, but the company's shares have fallen by 1.6% following news of increased capital expenditure for the PLA project to ₹3,080 crore.

Balrampur Chini plans to raise INR 450 crore by issuing new shares at INR 483 each, while the company's board has also approved the issuance of INR 200 crore in Non-Convertible Debentures (NCDs). Additionally, the cost of their PLA project has increased to INR 3,080 crores.

Balrampur Chini Mills has seen a 6% increase, moving between ₹500 and ₹490, signaling a potential rise towards ₹560-₹565 due to robust fundamentals. The company's focus on ethanol production and positive sugar industry trends are contributing to its growth outlook. [The Hindu Business Line]