Balaji Amines at all-time high

Balaji Amines has hit an all-time high today at Rs.674.45, up almost 7% from yesterday’s close of Rs.632.60. Volumes have gone up 2 times.

Yesterday, the Department of Industries, Energy and Labour, Mantralya, Mumbai conferred “mega project status” to its expansion project.

This project is at an outlay of Rs. 296 crore at MIDC Chincholi, Solapur, Maharashtra, where it was allotted 3,60,000 sq.metres (90 acres) land.

The company makes methylamines, ethylamines, derivatives of specialty chemicals and natural products. 

The mega project status entitles the company to various incentives, subject to compliance of conditions of Package Scheme Incentives (PSI) 2013. Such projects get Industrial Promotion subsidy; incentives are equivalent to 75% of the incentives admissible for New Units. It gets interest subsidy, exemption from electric duty, waiver of stamp duty, power tariff subsidy and various other incentives.
 

For more details on incentives, you could have a look at : https://di.maharashtra.gov.in/_layouts/15/doistaticsite/English/investors_guide_psi.html