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GHCL Limited to launch new bedding product brand Rekoop

Posted On: 2018-03-19 01:42:19

GHCL Limited, with a market cap of Rs.3000 crores is a well - diversified group with foot prints in Chemicals, Textiles and Consumer Products segment. GHCL has partnered with Applied DNA Sciences (ADNAS), Stony Brook, New York, a company that develops and employs unique technologies for the purpose of preventing counterfeiting and Reliance Industries Ltd. (RIL), an Indian conglomerate and the world's largest manufacturer of polyester fiber and yarn launched CertainT® verified molecular tagged, recycled PET ("rPET") bedding products under the brand "Rekoop" at the New York Home Fashions week- March 19 to 22, 2018.

Applied DNA' s CertainT platform forensically offers traceability to the recycled PET used in the manufacture of these bedding products. RIL is the fiber manufacturing partner for this line, which uses their ecofriendly Recron Green Gold fiber.

Veronika Richterova the renowned PET-artist from the Czech Republic has been working with GHCL to make bespoke artifacts made of PET bottles which are being showcased at the Grace Home Fashion I GHCL showroom at the Textile Building during the New York Home Fashions week.

Speaking on the occasion Ma nu Kapur, President and CEO of GHCL Home Textiles said "We are proud to unveil "Rekoop" the first fully source-verified recycled PET bedding product line which uses CertainT, Applied DNA's proprietary traceability system that tags, tests and tracks the original r-PET pellets to finished products. This platform provides customers and brands with the highest level of trust in terms of the authenticity of their products.The customer today is increasingly becoming ecologically conscious-and is shifting to making purchase decisions that support the environment. Based on these unique attributes, we anticipate a huge interest in "Rekoop".

GHCL operates its home textiles facility in Vapi in the state of Gujarat, India. The facility overseas the production process from spinning to weaving to finished processed fabric, which is then made into duvet sets, sheet sets, comforters, to name a few. As one of the leading manufacturers in home textiles in India, the plant boasts an annual production capacity of 36 million meters of finished fabric per annum. GHCL's home textile products are predominantly exported worldwide to USA, UK, Australia, Canada, Germany and other European Union countries as well. On 9th February 2018, GHCL was presented with the Golden Peacock Award for Corporate Social Responsibility.

Shares of GHCL LTD. was last trading in BSE at Rs.277.15 as compared to the previous close of Rs. 269.4. The total number of shares traded during the day was 3016308 in over 1571 trades.

The stock hit an intraday high of Rs. 284.9 and intraday low of 270. The net turnover during the day was Rs. 840076523.


Source: Equity Bulls

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