Kolkata: Wipro Limited Chairman Azim Premji has bought two lakh shares in Birla Corporation Limited, its chairman R S Lodha said on Tuesday.
"Investment in Birla Corporation's shares by savvy investors like Premji showed the confidence they had in this company," he said after the company's 86th annual general meeting in Kolkata.
Birla Corporation has been in the news since 2004 when R S Lodha took over its operations after the death of Priyamvada Birla.
Since then, the Birlas and Lodha are figthing a legal battle for control of the Rs 5,000 crore assets of the M P Birla group.
During 2005-06, the company registered an income of Rs 1,228.61 crore and a net profit of Rs 125.8 crore.
Lodha said that the company was in safe hands and was poised to growth further in future.
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