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Hi Yurii,
See the picture below. I hope it clears what I am asking 
I want the same label component to show different font colors for the text after ":" like red color for "Inprogress" (after black color text "Status:") but if status is "Closed" then it should appear black.
Hi Tooba,
You would need different tags for different colours. You could use HTML component instead of Label. Paste the following layout in it:precodeStatus:<label class="status">Inprogress</label>/code/pre
To change colour there use the following code:preApperyio("htmlName").find(".status").css("color":"black");/preWhere htmlName is a name of HTML component.