Latest News | Business Briefs BRFL Textiles' Fabric Production Rises 50 Pc on Improved Capacity Utilisation

New Delhi, Mar 1 (PTI) BRFL Textiles on Monday said fabric production at its Tarapur plant has increased from 1 lakh metres per day to 1.5 lakh metres per day at present, on the back of improved capacity utilisation.

BRFL Textiles Private Limited, which claims to have India's largest single-roof fabric processing facility, aims to reach its annual processing capacity of 144 million metres (4 lakh metres per day) over the due course of time.

Recently, BTPL completed a Rs 2.4 billion equity infusion from a consortium of marquee financial investors led by JM Financial India Fund II (an Indian growth private equity fund), Think Investments (a San Francisco-based investment firm) and others, the company said.

"Over the years, the fabrics from our Tarapur plant have earned the trust of our customers for its superior quality and design innovation and uniqueness. With the influx of PE funds, our manufacturing capacities are now being further leveraged to expand our output and market presence," BTPL Managing Director Prashant Agarwal said.

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SBI MF launches equity fund-of-fund scheme

*Largest asset management company SBI Mutual Fund on Monday launched an equity fund of fund (FoF) scheme, which will be investing in Mutual Fund scheme/ETFs (exchange-traded funds) that invest in US markets.

Need for international diversification (invest in themes not available in India) and risk mitigation (owing to lower correlation to Indian markets) are some of the key advantages of investing outside India, an official statement said.

SBI MF joins a slew of domestic peers who have launched schemes that allow local investors to take bets on US or foreign markets.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)