Premji picks shares in Birla Corporation: Lodha

Kolkata, Sept 19 (UNI) Wipro Chairman Azim Premji has picked up two lakh shares in M P Birla flagship company Birla Corporation Ltd recently.

This was announced by Birla Corporation Chairman R S Lodha in the company's annual general meeting.

Mr Lodha said the organisation was in growth path.

" Premji, a savvy investor, has picked up shares in the company looking at the long term sustainable growth model we have adopted, " Mr Lodha said.

Reiterating his resolve to fight "vested interests", he said, " I am going to ensure that M P Birla and 'Barima's' (Priyamvada Birla) aspirations are fulfilled. " Describing the company's performance as "satisfactory", he said efforts should be undertaken to improve on the viability of each of the profit centres.

He said one way to turn around the jute division is to transfer the division in Soorah to Birlapur.

" We have assured the government that all the workers will be relocated, " he said adding scope of expansion in Soorah was limited.

Mr Lodha was involved in a legal tangle with the Birla's over the ownership of M P Birla's asset worth Rs 5,000 crore, which had purportedly been bequeathed to him by Late Priyamvada Birla.

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