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Ola Electric on Sunday alleged that fear of losing market opportunities prompted foreign rival to attack its indigenous battery innovation of '4680 Bharat Cell', refuting reports of stealing technology from South Korea's LG Energy Solution. Reports from South Korea alleged that an unnamed former LG Energy Solution executive attempted to pass on pouch cell technology IPs to Ola Electric. An LG Energy Solution official was also quoted as confirming that the company had identified the situation early and alerted the country's authorities immediately. Terming the report as "misleading and completely baseless", Ola Electric said, "The old and dated pouch cell technology, which the report claims was leaked, is not even an area of research or commercial interest for Ola Electric. Our 4680 Bharat Cell is based on the most advanced dry electrode technology in a cylindrical form factor and surpasses the pouch cell touted in media leaks." Questioning the timing of the reports, at a time when .
LG Electronics India's profit surged 45.8 per cent to Rs 2,203.35 crore in FY25, and its revenue from operations was up 14.1 per cent to Rs 24,366.64 crore, according to the latest RoC filing by the appliances and consumer electronics major. The company, which is in the listing process on exchanges, reported a post-tax profit of Rs 1,511.07 crore and revenue from operations of Rs 21,352 crore for the financial year ended March 31, 2024. LG Electronics India (LGEI)'s total income in FY25, including other income, rose 14.25 per cent to Rs 24,630.63 crore, according to the financial data accessed by the business intelligence platform Tofler. The company's pre-tax profit rose 45.5 per cent in FY25. The South Korea-based parent entity LG Electronics is selling a 15 per cent stake through Offer for Sale (OFS) in LGEI's Initial Public Offering (IPO). LGEI's Advertising promotional expenses increased 7.27 per cent to Rs 1,009.12 crore in FY25, from Rs 940.71 crore in FY24. The total tax
LG Corporation Chairman and CEO Kwang Mo Koo is on a two-day visit to India ahead of the proposed initial public offering of its Indian unit, according to industry insiders. Koo is meeting with the senior leadership of LG Electronics India, including its Managing Director, to review the performance and take stock of the preparations for the local subsidiary's upcoming IPO, they added. He is also expected to discuss investment proposals for the Indian market, one of the largest markets for the South Korean Chaebol. It is unclear whether he is scheduled to meet with any top policymakers here. He is likely to visit the Greater Noida plant of LG Electronics India. An e-mail sent to LG Electronics India remained unanswered. Last week, LG Electronics started roadshows for the upcoming initial public offering of its Indian units, where the South Korean chaebol will sell over 10.18 crore shares amounting to a 15 per cent stake, which, according to some reports, may raise up to USD 1.5 ..
University of Jammu has achieved a milestone by securing the coveted A++ grade in the National Assessment and Accreditation Council (NAAC) accreditation, attaining an impressive cumulative grade point average (CGPA) of 3.72 on a four-point scale, officials said. Lieutenant Governor Manoj Sinha has extended his heartfelt congratulations to the vice-chancellor, faculty, staff, scholars, and students of the university for this remarkable achievement. "This is a significant improvement from the last accreditation cycle (Cycle III), where the university secured an A+ grade with a CGPA of 3.51. It reflects the institution's dedication to quality sustenance and enhancement," Vice-Chancellor Umesh Rai said, expressing immense pride in the accomplishment. Attributing the success to the collective efforts of the university community, Rai said, "The A++ grade is a testament to the unwavering commitment of our faculty, officers, staff, scholars, students, and alumni. It embodies our shared visi