Mumbai-based company New Light Apparels Ltd. is making headlines with its recent 10:1 stock split announcement, effective October 10, 2024. This strategic move aims to attract a broader range of investors by reducing the face value from Rs 10 to Rs 1, making shares more affordable and increasing liquidity in the market.
The company, known for its pioneering Lab-Grown Cotton technology, has significantly advanced sustainable textile production. This innovation slashes costs to Rs 7 per meter, a remarkable reduction from traditional methods, while also addressing environmental concerns like water and pesticide use. New Light Apparels now stands as a leader in eco-friendly manufacturing.
Furthermore, New Light Apparels has secured significant contracts with international fashion giants such as Organic Basics and Hugo Boss. These partnerships, along with the Bangladesh Textile Crisis, have positioned India as a key sourcing hub, enhancing New Light's reputation globally and boosting its financial performance. Analysts see a bullish trend as the company continues to innovate.
(With inputs from agencies.).
