Tata Coffee today said one of its shareholders, Sharad Kantilal Shah, and his associates have increased their stake by 1.2% to 12.90% in the company by buying shares from the open market.
In a filing to the Bombay Stock Exchange, the company said Shah -- who is acting consultant to firms Tripti Sharad Shah and Astral Securities Private -- has bought 2,24,548 shares aggregating to 1.20% in Tata Coffee.
The company said Shah and his associates were earlier holding a 11.70% participating interest in the Tata Group firm.
Shares of Tata Coffee were trading at Rs 924.10 in the afternoon, up 1.92% from the previous close on the Bombay Stock Exchange.